Morgan Stanley Lowers Amkor Technology (NASDAQ:AMKR) Price Target to $24.00

Amkor Technology (NASDAQ:AMKR - Get Free Report) had its target price reduced by Morgan Stanley from $26.00 to $24.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's price target suggests a potential upside of 6.65% from the stock's previous close.

A number of other brokerages have also recently weighed in on AMKR. StockNews.com cut Amkor Technology from a "buy" rating to a "hold" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price target on Amkor Technology from $48.00 to $42.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Melius Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. DA Davidson reduced their price objective on Amkor Technology from $40.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Finally, Melius downgraded Amkor Technology from a "buy" rating to a "hold" rating and reduced their price objective for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $31.50.

Amkor Technology Stock Performance

Amkor Technology stock traded up $0.31 during midday trading on Tuesday, hitting $22.50. 1,283,922 shares of the company were exchanged, compared to its average volume of 1,601,884. The firm has a market capitalization of $5.55 billion, a PE ratio of 15.17 and a beta of 1.81. The business has a fifty day simple moving average of $25.45 and a two-hundred day simple moving average of $28.11. 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 $21.46 and a fifty-two week high of $44.86.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. On average, sell-side analysts forecast that Amkor Technology will post 1.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in Amkor Technology in the fourth quarter worth about $27,000. Jones Financial Companies Lllp increased its stake in Amkor Technology by 353.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 1,160 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Amkor Technology during the third quarter worth approximately $39,000. Bessemer Group Inc. lifted its stake in Amkor Technology by 421.0% in the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 1,242 shares during the last quarter. Finally, Hurley Capital LLC acquired a new stake in Amkor Technology in the fourth quarter valued at approximately $43,000. 42.76% of the stock is owned by hedge funds and other 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.