Amkor Technology (NASDAQ:AMKR) Coverage Initiated at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group began coverage on shares of Amkor Technology (NASDAQ:AMKR - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage set a "neutral" rating and a $20.00 price target on the semiconductor company's stock. The Goldman Sachs Group's price target points to a potential downside of 8.95% from the stock's previous close.

A number of other analysts have also weighed in on AMKR. B. Riley lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, April 21st. KeyCorp restated a "sector weight" rating on shares of Amkor Technology in a report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of Amkor Technology from $30.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. Morgan Stanley decreased their price objective on shares of Amkor Technology from $24.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Finally, DA Davidson decreased their price objective on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.50.

Amkor Technology Price Performance

Shares of NASDAQ AMKR traded up $0.08 during midday trading on Thursday, hitting $21.97. 581,398 shares of the company's stock were exchanged, compared to its average volume of 1,800,904. Amkor Technology has a 12-month low of $14.03 and a 12-month high of $44.86. The company has a current ratio of 2.06, a quick ratio of 1.83 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 17.18 and a beta of 1.85. The business's fifty day moving average price is $19.82 and its two-hundred day moving average price is $20.82.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. Amkor Technology had a net margin of 5.04% and a return on equity of 7.60%. The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The firm's revenue was down 3.2% on a year-over-year basis. As a group, research analysts forecast that Amkor Technology will post 1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Amkor Technology

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Amkor Technology in the fourth quarter worth $27,000. Jones Financial Companies Lllp boosted its holdings in shares of Amkor Technology by 353.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 1,160 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Amkor Technology in the first quarter valued at approximately $27,000. Bessemer Group Inc. increased its position in Amkor Technology by 421.0% during the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 1,242 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Amkor Technology by 416.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,602 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 1,292 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.