Amkor Technology (NASDAQ:AMKR) Sets New 1-Year Low After Analyst Downgrade

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) reached a new 52-week low during mid-day trading on Tuesday after B. Riley lowered their price target on the stock from $38.00 to $32.00. B. Riley currently has a buy rating on the stock. Amkor Technology traded as low as $21.91 and last traded at $22.35, with a volume of 667743 shares trading hands. The stock had previously closed at $24.36.

AMKR has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of Amkor Technology in a report on Tuesday. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. DA Davidson dropped their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their price target for the stock from $34.00 to $30.00 in a report on Monday, January 6th. Finally, Morgan Stanley dropped their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.50.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. raised its holdings in Amkor Technology by 24,383.3% during the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after buying an additional 3,772,095 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Amkor Technology during the 3rd quarter valued at about $42,610,000. Vanguard Group Inc. raised its stake in shares of Amkor Technology by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock valued at $402,414,000 after acquiring an additional 1,092,002 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Amkor Technology by 522.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock worth $34,704,000 after purchasing an additional 951,764 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Amkor Technology by 212.6% during the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock worth $41,647,000 after purchasing an additional 925,644 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Stock Performance

The company has a market cap of $5.32 billion, a price-to-earnings ratio of 14.59 and a beta of 1.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The firm has a fifty day simple moving average of $25.62 and a 200 day simple moving average of $28.20.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, topping 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%. On average, sell-side analysts expect that Amkor Technology, Inc. will post 1.38 earnings per share for the current fiscal year.

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.