Amkor Technology (NASDAQ:AMKR) Price Target Lowered to $24.00 at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price target trimmed by Morgan Stanley from $26.00 to $24.00 in a report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

Several other brokerages have also recently issued reports on AMKR. KeyCorp reduced their price objective on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Melius cut Amkor Technology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.50.

Amkor Technology Stock Up 1.6 %

NASDAQ:AMKR opened at $22.19 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 stock’s fifty day moving average is $25.45 and its two-hundred day moving average is $28.11. Amkor Technology has a 52 week low of $21.46 and a 52 week high of $44.86. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 14.99 and a beta of 1.81.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. Research analysts anticipate that Amkor Technology will post 1.38 EPS for the current year.

Hedge Funds Weigh In On Amkor Technology

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Amkor Technology by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock valued at $402,414,000 after buying an additional 1,092,002 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Amkor Technology by 15.8% in the fourth quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock valued at $104,853,000 after buying an additional 556,761 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of 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 worth $115,899,000 after purchasing an additional 3,772,095 shares during the last quarter. State Street Corp grew its holdings in shares of Amkor Technology by 5.6% during the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock worth $102,688,000 after purchasing an additional 176,528 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Amkor Technology by 24.4% during the fourth quarter. American Century Companies Inc. now owns 2,709,002 shares of the semiconductor company’s stock worth $69,594,000 after purchasing an additional 530,771 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Company Profile

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.