DA Davidson Issues Pessimistic Forecast for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its price target reduced by equities researchers at DA Davidson from $36.00 to $30.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price objective indicates a potential upside of 71.62% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. B. Riley cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 21st. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and cut their price target for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Morgan Stanley lowered their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Amkor Technology currently has a consensus rating of “Hold” and an average price target of $29.25.

Amkor Technology Stock Down 0.4 %

Shares of AMKR opened at $17.48 on Tuesday. The company’s 50-day moving average price is $18.55 and its 200 day moving average price is $23.51. Amkor Technology has a 12-month low of $14.03 and a 12-month high of $44.86. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.32 billion, a P/E ratio of 12.22 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. On average, sell-side analysts forecast that Amkor Technology will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the sale, the executive vice president now owns 1,388 shares in the company, valued at approximately $30,105.72. The trade was a 79.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the transaction, the insider now directly owns 10,020,870 shares in the company, valued at $218,956,009.50. This trade represents a 7.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMKR. Principal Financial Group Inc. grew its position in shares of Amkor Technology by 0.9% during the first quarter. Principal Financial Group Inc. now owns 1,989,507 shares of the semiconductor company’s stock worth $35,931,000 after acquiring an additional 17,214 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Amkor Technology in the first quarter valued at about $293,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Amkor Technology by 15.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,886 shares of the semiconductor company’s stock worth $197,000 after buying an additional 1,423 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Amkor Technology by 32.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,260 shares of the semiconductor company’s stock worth $403,000 after buying an additional 5,447 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Amkor Technology by 12.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 375,953 shares of the semiconductor company’s stock valued at $6,880,000 after acquiring an additional 41,382 shares during the last quarter. Institutional investors and hedge funds 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.