Amkor Technology (NASDAQ:AMKR) Price Target Cut to $38.00 by Analysts at B. Riley Financial

Amkor Technology (NASDAQ:AMKR) had its target price cut by equities research analysts at B. Riley Financial from $41.00 to $38.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. B. Riley Financial‘s price objective suggests a potential upside of 9.66% from the company’s previous close.

AMKR has been the subject of a number of other research reports. Weiss Ratings lowered Amkor Technology from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Zacks Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Bank of America began coverage on Amkor Technology in a report on Thursday, August 27th. They issued a “buy” rating and a $70.00 price objective on the stock. Wall Street Zen cut Amkor Technology from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, The Goldman Sachs Group set a $56.00 price objective on Amkor Technology in a research note on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Amkor Technology currently has an average rating of “Hold” and an average price target of $62.12.

Amkor Technology Stock Up 5.6%

NASDAQ:AMKR opened at $34.65 on Monday. The company has a market cap of $8.59 billion, a PE ratio of 13.93, a P/E/G ratio of 0.41 and a beta of 2.39. Amkor Technology has a twelve month low of $29.76 and a twelve month high of $96.68. The company has a current ratio of 2.17, a quick ratio of 1.89 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $46.50 and its two-hundred day moving average is $56.70.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.04 billion. Amkor Technology had a return on equity of 13.32% and a net margin of 8.30%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Analysts anticipate that Amkor Technology will post 2.50 EPS for the current year.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $46.92, for a total value of $46,920.00. Following the sale, the chief financial officer directly owned 133,105 shares of the company’s stock, valued at approximately $6,245,286.60. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas Alexander sold 5,000 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the sale, the director directly owned 29,109 shares in the company, valued at $1,600,995. This represents a 14.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 13,000 shares of company stock valued at $724,320. 26.40% of the stock is owned by insiders.

Institutional Trading of Amkor Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. lifted its holdings in Amkor Technology by 278.9% in the third quarter. Eurizon Capital SGR S.p.A. now owns 663 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 488 shares during the period. CoreCap Advisors LLC boosted its position in Amkor Technology by 56.4% in the 2nd quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 158 shares in the last quarter. Curry Webb Wealth Management LLC acquired a new stake in shares of Amkor Technology during the 3rd quarter worth approximately $39,000. Mather Group LLC. acquired a new stake in shares of Amkor Technology during the 3rd quarter worth approximately $41,000. Finally, Clearstead Trust LLC purchased a new position in shares of Amkor Technology during the 2nd quarter valued at approximately $43,000. 42.76% of the stock is owned by institutional investors and hedge funds.

About Amkor Technology

Amkor Technology is a provider of outsourced semiconductor packaging and test services. It works with semiconductor companies to assemble and test integrated circuits before they are incorporated into electronic products.

Its services include advanced packaging, wafer bumping, flip-chip packaging, wafer-level packaging, system-in-package solutions, and semiconductor testing. These technologies support applications in markets such as communications, automotive, computing, and consumer electronics.

Founded in 1968, Amkor has grown from its roots in South Korea into a global provider with operations across Asia, Europe, and the United States.