Morgan Stanley Has Lowered Expectations for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its target price cut by stock analysts at Morgan Stanley from $26.00 to $24.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential downside of 1.48% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC cut their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. The Goldman Sachs Group lowered their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and cut their price objective for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Finally, StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.25.

Amkor Technology Trading Up 0.1 %

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

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating 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%. As a group, research analysts predict that Amkor Technology will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ritholtz Wealth Management lifted its stake in Amkor Technology by 1.7% in the third quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock valued at $665,000 after buying an additional 357 shares during the last quarter. Highland Capital Management LLC lifted its holdings in shares of Amkor Technology by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 7,814 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 482 shares during the period. Larson Financial Group LLC boosted its position in shares of Amkor Technology by 46.3% during the 3rd 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 in the last quarter. New York State Teachers Retirement System boosted its holdings in Amkor Technology by 2.0% during the fourth quarter. New York State Teachers Retirement System now owns 39,718 shares of the semiconductor company’s stock worth $1,020,000 after buying an additional 782 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Amkor Technology by 0.8% in the 4th quarter. GHP Investment Advisors Inc. now owns 95,786 shares of the semiconductor company’s stock worth $2,461,000 after acquiring an additional 785 shares during the period. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.