Amkor Technology (NASDAQ:AMKR) Given New $32.00 Price Target at B. Riley

Amkor Technology (NASDAQ:AMKR) had its price objective cut by equities researchers at B. Riley from $38.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price objective suggests a potential upside of 44.95% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group dropped their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. DA Davidson dropped their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. KeyCorp cut their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Morgan Stanley cut their price target on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Amkor Technology currently has a consensus rating of “Hold” and an average target price of $31.50.

Amkor Technology Trading Down 9.4 %

NASDAQ AMKR opened at $22.08 on Tuesday. 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 stock has a market capitalization of $5.44 billion, a P/E ratio of 15.16 and a beta of 1.81. The firm’s 50-day moving average is $25.73 and its two-hundred day moving average is $28.31. Amkor Technology has a 12 month low of $22.28 and a 12 month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that Amkor Technology will post 1.38 earnings per share for the current year.

Hedge Funds Weigh In On Amkor Technology

Several institutional investors have recently made changes to their positions in AMKR. SBI Securities Co. Ltd. acquired a new position in shares of Amkor Technology during the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new stake in Amkor Technology in the third quarter worth about $39,000. Jones Financial Companies Lllp increased its holdings 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 buying an additional 1,160 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Amkor Technology by 46.3% during the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 580 shares during the period. Finally, Ulland Investment Advisors LLC purchased a new stake in Amkor Technology during the third quarter valued at about $82,000. 42.76% of the stock is owned by institutional investors.

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.