B. Riley Financial Has Lowered Expectations for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its price target decreased by equities research analysts at B. Riley Financial from $90.00 to $75.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. B. Riley Financial’s target price indicates a potential upside of 10.76% from the company’s previous close.

Several other equities research analysts have also commented on AMKR. The Goldman Sachs Group boosted their price objective on Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. UBS Group reiterated a “neutral” rating and set a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Zacks Research raised shares of Amkor Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday. Needham & Company LLC upped their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Morgan Stanley upped their target price on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Amkor Technology Price Performance

Amkor Technology stock traded up $0.98 during trading on Wednesday, reaching $67.71. The company had a trading volume of 1,467,658 shares, compared to its average volume of 4,837,700. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The firm has a market capitalization of $16.78 billion, a PE ratio of 38.47 and a beta of 2.20. Amkor Technology has a 1-year low of $20.86 and a 1-year high of $96.68. The firm’s 50-day simple moving average is $73.76 and its 200 day simple moving average is $60.28.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.10. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. As a group, equities research analysts anticipate that Amkor Technology will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Amkor Technology

In other news, Director Roger Anthony Carolin sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.24, for a total transaction of $1,524,800.00. Following the completion of the transaction, the director directly owned 94,409 shares in the company, valued at $7,197,742.16. This trade represents a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gil C. Tily sold 15,000 shares of Amkor Technology stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the completion of the sale, the director directly owned 108,806 shares of the company’s stock, valued at $8,410,703.80. The trade was a 12.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 114,000 shares of company stock valued at $8,631,450 over the last ninety days. 26.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMKR. CoreCap Advisors LLC grew its holdings in shares of Amkor Technology by 56.4% in the second quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Amkor Technology during the second quarter worth $54,000. Smartleaf Asset Management LLC increased its position in shares of Amkor Technology by 180.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 440 shares during the period. Root Financial Partners LLC raised its stake in shares of Amkor Technology by 38.8% in the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 262 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Amkor Technology by 91.2% during the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.