Amkor Technology (NASDAQ:AMKR) Stock Gets Price Target Trim from B. Riley Financial

Amkor Technology (NASDAQ:AMKR) had its target price lowered by B. Riley Financial from $41.00 to $38.00 in a research note published on Monday morning,Benzinga reports. B. Riley Financial currently has a neutral rating on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC cut their target price on shares of Amkor Technology from $90.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. UBS Group raised shares of Amkor Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $90.00 in a research report on Friday, July 24th. Zacks Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. The Goldman Sachs Group set a $56.00 price target on shares of Amkor Technology in a research note on Tuesday, October 27th. Finally, Morgan Stanley lowered their price objective on shares of Amkor Technology from $70.00 to $63.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 27th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.12.

Amkor Technology Trading Up 10.5%

AMKR stock opened at $38.10 on Monday. The company has a market cap of $9.44 billion, a P/E ratio of 15.36, a PEG ratio of 0.43 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 quick ratio of 1.89, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $45.83 and a 200-day moving average of $56.46.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.04 billion. Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. As a group, equities research analysts expect that Amkor Technology will post 2.50 EPS for the current year.

Insider Buying and Selling

In other news, EVP Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $59.78, for a total transaction of $298,900.00. Following the sale, the executive vice president owned 38,904 shares in the company, valued at $2,325,681.12. This represents a 11.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Kevin K. Engel sold 1,000 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $35.00, for a total value of $35,000.00. Following the completion of the sale, the chief executive officer directly owned 8,666 shares of the company’s stock, valued at approximately $303,310. The trade was a 10.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 13,000 shares of company stock worth $704,870. Insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Amkor Technology in the second quarter valued at approximately $1,060,005,000. Jefferies Financial Group Inc. bought a new position in shares of Amkor Technology during the 2nd quarter worth approximately $13,491,000. Public Employees Retirement System of Ohio bought a new position in shares of Amkor Technology during the 2nd quarter worth approximately $3,575,000. Vontobel Holding Ltd. acquired a new position in shares of Amkor Technology during the 3rd quarter worth approximately $3,339,000. Finally, Corient Private Wealth LP increased its holdings in shares of Amkor Technology by 142.7% during the 2nd quarter. Corient Private Wealth LP now owns 158,037 shares of the semiconductor company’s stock worth $13,628,000 after acquiring an additional 92,929 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Recent Amkor Technology Headlines

These are some of the AMKR headlines that stood out recently:

• Positive Sentiment: Investors are focusing on Amkor’s multiyear NVIDIA agreements, which total $3 billion and include a $1.3 billion commitment for advanced-packaging capacity. Computing’s share of third-quarter revenue also rose to 26%, from 22% in the prior quarter and 19% a year earlier. Amkor Technology Jumps as Chip Stocks Rebound and Investors Reassess AI Packaging Story
• Positive Sentiment: A broader rebound in semiconductor stocks provided a favorable backdrop for AMKR. A separate valuation article argues the shares may be below fair value based on earnings power. Amkor Stock May Be Below Fair Value On Earnings Power
• Neutral Sentiment: CEO Kevin Engel sold 1,000 shares under a pre-arranged Rule 10b5-1 plan. The sale may draw attention, though the planned nature and relatively small size limit its significance. Amkor Insider Trades

Amkor Technology Company Profile

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.