Amkor Technology (AMKR) Price Target Lowered to $7.00 at Citigroup

Amkor Technology (NASDAQ:AMKR) had its target price trimmed by Citigroup from $8.50 to $7.00 in a research report report published on Wednesday morning. The firm currently has a sell rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. ValuEngine downgraded Amkor Technology from a hold rating to a sell rating in a research report on Wednesday, July 4th. Deutsche Bank upped their price objective on Amkor Technology from $9.50 to $10.00 and gave the stock a hold rating in a research report on Tuesday, July 31st. Zacks Investment Research downgraded Amkor Technology from a hold rating to a sell rating in a research report on Wednesday, August 1st. TheStreet downgraded Amkor Technology from a b- rating to a c+ rating in a research report on Friday, October 19th. Finally, BidaskClub downgraded Amkor Technology from a sell rating to a strong sell rating in a research report on Saturday, September 29th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company currently has an average rating of Sell and a consensus target price of $7.00.

Shares of NASDAQ:AMKR traded up $0.14 during trading on Wednesday, reaching $7.29. 149,858 shares of the company traded hands, compared to its average volume of 1,561,087. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 12.57 and a beta of 2.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.05 and a current ratio of 1.26. Amkor Technology has a 52 week low of $5.72 and a 52 week high of $11.88.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Amkor Technology had a return on equity of 9.08% and a net margin of 4.55%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. Research analysts predict that Amkor Technology will post 0.49 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. GAM Holding AG bought a new stake in shares of Amkor Technology during the 2nd quarter worth $100,000. Fox Run Management L.L.C. bought a new stake in shares of Amkor Technology during the 3rd quarter worth $132,000. Xact Kapitalforvaltning AB lifted its position in shares of Amkor Technology by 71.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 24,676 shares of the semiconductor company’s stock worth $250,000 after buying an additional 10,300 shares during the last quarter. Unison Advisors LLC bought a new stake in shares of Amkor Technology during the 2nd quarter worth $281,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Amkor Technology during the 3rd quarter worth $323,000. Institutional investors and hedge funds own 37.45% of the company’s stock.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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