Amkor Technology (NASDAQ:AMKR) Price Target Cut to $30.00 by Analysts at JPMorgan Chase & Co.

Amkor Technology (NASDAQ:AMKR) had its target price cut by JPMorgan Chase & Co. from $42.00 to $30.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other brokerages have also issued reports on AMKR. Morgan Stanley cut their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday. DA Davidson dropped their price target on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. KeyCorp dropped their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group dropped their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.50.

Amkor Technology Stock Down 11.4 %

AMKR opened at $21.59 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $25.62 and a 200-day moving average price of $28.20. Amkor Technology has a twelve month low of $21.59 and a twelve month high of $44.86. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 14.59 and a beta of 1.81.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. Equities research analysts forecast that Amkor Technology will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Amkor Technology in the fourth quarter valued at $27,000. Jones Financial Companies Lllp raised its stake in shares of Amkor Technology by 353.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 1,160 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Amkor Technology in the third quarter valued at $39,000. Larson Financial Group LLC raised its stake in shares of Amkor Technology by 46.3% in the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 580 shares during the period. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of Amkor Technology in the third quarter valued at $82,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.