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

Amkor Technology (NASDAQ:AMKR) had its price target trimmed by Morgan Stanley from $26.00 to $24.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other research firms have also commented on AMKR. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the company from $34.00 to $30.00 in a research report on Monday, January 6th. Needham & Company LLC dropped their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. DA Davidson dropped their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. dropped their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.50.

Amkor Technology Price Performance

NASDAQ:AMKR opened at $22.19 on Tuesday. Amkor Technology has a 12 month low of $21.46 and a 12 month high of $44.86. The stock has a 50 day moving average of $25.45 and a two-hundred day moving average of $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. The firm has a market cap of $5.47 billion, a P/E ratio of 14.99 and a beta of 1.81.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, topping 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, analysts expect that Amkor Technology will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Amkor Technology by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock valued at $402,414,000 after acquiring an additional 1,092,002 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Amkor Technology by 15.8% in the fourth quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock valued at $104,853,000 after acquiring an additional 556,761 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Amkor Technology by 24,383.3% in the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after acquiring an additional 3,772,095 shares during the last quarter. State Street Corp lifted its holdings in Amkor Technology by 5.6% in the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock valued at $102,688,000 after acquiring an additional 176,528 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Amkor Technology by 24.4% during the fourth quarter. American Century Companies Inc. now owns 2,709,002 shares of the semiconductor company’s stock worth $69,594,000 after purchasing an additional 530,771 shares in the last quarter. 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.