Amkor Technology (NASDAQ:AMKR) Sets New 52-Week Low Following Analyst Downgrade

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) shares reached a new 52-week low during trading on Tuesday after B. Riley lowered their price target on the stock from $38.00 to $32.00. B. Riley currently has a buy rating on the stock. Amkor Technology traded as low as $21.91 and last traded at $22.35, with a volume of 667743 shares traded. The stock had previously closed at $24.36.

A number of other equities analysts have also recently weighed in on AMKR. JPMorgan Chase & Co. reduced their price target on shares of Amkor Technology from $42.00 to $30.00 and set an "overweight" rating on the stock in a research report on Tuesday. Melius Research cut shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. StockNews.com cut shares of Amkor Technology from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. Melius cut shares of Amkor Technology from a "buy" rating to a "hold" rating and reduced their price target for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Finally, KeyCorp reduced their price target 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. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $31.50.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors have recently added to or reduced their stakes in AMKR. Pacer Advisors Inc. lifted its position in Amkor Technology by 24,383.3% during the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company's stock worth $115,899,000 after buying an additional 3,772,095 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in Amkor Technology during the 3rd quarter worth about $42,610,000. Norges Bank bought a new stake in Amkor Technology during the 4th quarter worth about $32,479,000. Vanguard Group Inc. increased its stake in shares of Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company's stock worth $402,414,000 after purchasing an additional 1,092,002 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Amkor Technology by 522.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company's stock worth $34,704,000 after purchasing an additional 951,764 shares during the last quarter. 42.76% of the stock is owned by institutional investors.

Amkor Technology Stock Up 1.4 %

The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 15.17 and a beta of 1.81. The firm's 50 day moving average price is $25.45 and its two-hundred day moving average price is $28.11. 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 - Get Free Report) last announced its quarterly 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%. Sell-side analysts anticipate that Amkor Technology, Inc. will post 1.38 earnings per share for the current fiscal year.

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.