DA Davidson Issues Pessimistic Forecast for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its price objective reduced by DA Davidson from $40.00 to $36.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock. DA Davidson also issued estimates for Amkor Technology’s Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.38 EPS and FY2025 earnings at $2.00 EPS.

Several other equities analysts have also commented on AMKR. Needham & Company LLC lowered their price target on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday. The Goldman Sachs Group lowered their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, StockNews.com upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.63.

Amkor Technology Stock Up 2.2 %

AMKR stock opened at $26.00 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.83. Amkor Technology has a 1-year low of $21.92 and a 1-year high of $44.86. The firm has a fifty day moving average price of $30.21 and a two-hundred day moving average price of $33.13. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 17.57 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts predict that Amkor Technology will post 1.42 EPS for the current year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were issued a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Tuesday, September 3rd. Amkor Technology’s payout ratio is 20.95%.

Insider Activity

In other news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMKR. Allspring Global Investments Holdings LLC boosted its holdings in shares of Amkor Technology by 104.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,904 shares of the semiconductor company’s stock worth $545,000 after buying an additional 8,617 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Amkor Technology by 2.4% in the first quarter. State of Michigan Retirement System now owns 25,349 shares of the semiconductor company’s stock worth $817,000 after buying an additional 600 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Amkor Technology by 0.3% in the first quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock worth $4,179,000 after buying an additional 344 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Amkor Technology by 15.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 289,443 shares of the semiconductor company’s stock worth $8,990,000 after buying an additional 39,509 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Amkor Technology by 108.6% in the first quarter. BNP Paribas Financial Markets now owns 75,470 shares of the semiconductor company’s stock worth $2,433,000 after buying an additional 39,284 shares during the period. 42.76% of the stock is currently 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.