JPMorgan Chase & Co. Has Lowered Expectations for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $42.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 23.15% from the company’s previous close.

Other analysts have also issued research reports about the company. The Goldman Sachs Group dropped their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. KeyCorp decreased their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price on shares of Amkor Technology in a report on Tuesday. DA Davidson reduced their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.75.

Amkor Technology Price Performance

Shares of Amkor Technology stock opened at $24.36 on Tuesday. The business’s 50-day moving average price is $25.73 and its 200-day moving average price is $28.31. The firm has a market capitalization of $6.01 billion, a PE ratio of 16.46 and a beta of 1.81. Amkor Technology has a 12 month low of $23.33 and a 12 month high of $44.86. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Amkor Technology will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd grew its holdings in Amkor Technology by 41.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 274,000 shares of the semiconductor company’s stock worth $7,036,000 after purchasing an additional 80,000 shares during the period. Intech Investment Management LLC grew its stake in shares of Amkor Technology by 131.9% in the 4th quarter. Intech Investment Management LLC now owns 22,664 shares of the semiconductor company’s stock worth $582,000 after buying an additional 12,892 shares during the last quarter. Royce & Associates LP grew its stake in shares of Amkor Technology by 8.6% in the 4th quarter. Royce & Associates LP now owns 426,548 shares of the semiconductor company’s stock worth $10,958,000 after buying an additional 33,798 shares during the last quarter. Swiss National Bank increased its position in Amkor Technology by 0.8% during the 4th quarter. Swiss National Bank now owns 218,100 shares of the semiconductor company’s stock valued at $5,603,000 after buying an additional 1,800 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Amkor Technology during the fourth quarter valued at $2,821,000. 42.76% of the stock is currently 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.