Amkor Technology (NASDAQ:AMKR) Price Target Cut to $30.00 by Analysts at JPMorgan Chase & Co.

Amkor Technology (NASDAQ:AMKR) had its price target cut by JPMorgan Chase & Co. from $42.00 to $30.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other analysts have also weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. DA Davidson decreased their target price on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Morgan Stanley decreased their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their target price for the company from $34.00 to $30.00 in a research report on Monday, January 6th. Finally, StockNews.com lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $22.19 on Tuesday. The firm’s 50-day moving average is $25.45 and its 200-day moving average is $28.11. Amkor Technology has a 52-week low of $21.46 and a 52-week high of $44.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 14.99 and a beta of 1.81.

Amkor Technology (NASDAQ:AMKR) last issued 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 net margin of 5.68% and a return on equity of 8.98%. Equities research analysts anticipate that Amkor Technology will post 1.38 earnings per share for the current year.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMKR. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 1,092,002 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of 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 buying an additional 556,761 shares during the period. Pacer Advisors Inc. boosted its holdings in Amkor Technology by 24,383.3% during the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after purchasing an additional 3,772,095 shares during the last quarter. State Street Corp boosted its holdings in Amkor Technology by 5.6% during the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock worth $102,688,000 after purchasing an additional 176,528 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings 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 during the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.