Morgan Stanley Issues Pessimistic Forecast for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its target price cut by analysts at Morgan Stanley from $24.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price would indicate a potential upside of 8.88% from the company’s previous close.

AMKR has been the subject of several other research reports. Needham & Company LLC reduced their price objective on shares of Amkor Technology from $34.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and decreased their price objective for the company from $34.00 to $30.00 in a report on Monday, January 6th. B. Riley downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 21st. KeyCorp reaffirmed a “sector weight” rating on shares of Amkor Technology in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. lowered their price target on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Amkor Technology presently has an average rating of “Hold” and a consensus target price of $28.00.

Amkor Technology Stock Up 2.5 %

Shares of NASDAQ AMKR opened at $17.45 on Tuesday. Amkor Technology has a 12-month low of $14.03 and a 12-month high of $44.86. The stock’s fifty day simple moving average is $18.33 and its two-hundred day simple moving average is $23.42. The stock has a market capitalization of $4.31 billion, a PE ratio of 12.20 and a beta of 1.88. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. As a group, analysts expect that Amkor Technology will post 1.47 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Amkor Technology

Several hedge funds and other institutional investors have recently bought and sold shares of AMKR. Cerity Partners LLC boosted its position in Amkor Technology by 26.3% in the 1st quarter. Cerity Partners LLC now owns 239,308 shares of the semiconductor company’s stock worth $4,322,000 after purchasing an additional 49,820 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Amkor Technology by 166.3% in the 1st quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 1,357 shares during the period. M&T Bank Corp boosted its holdings in Amkor Technology by 36.9% during the first quarter. M&T Bank Corp now owns 52,816 shares of the semiconductor company’s stock worth $954,000 after buying an additional 14,236 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Amkor Technology by 7.1% during the first quarter. Envestnet Asset Management Inc. now owns 612,101 shares of the semiconductor company’s stock valued at $11,055,000 after buying an additional 40,653 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Amkor Technology by 0.9% in the first quarter. Principal Financial Group Inc. now owns 1,989,507 shares of the semiconductor company’s stock valued at $35,931,000 after buying an additional 17,214 shares in the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

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.