Investment firm B. Riley has downgraded Amkor Technology (AMKR, Financial) to a Neutral rating, previously holding a Buy position. The price target for the semiconductor packaging company has also been significantly reduced from $32 to $18.
This adjustment reflects the firm's revised expectations ahead of Amkor's anticipated first-quarter financial report, particularly due to lower iPhone production volumes resulting from challenging macroeconomic conditions. B. Riley suggests that any potential catalysts for Amkor through 2025 appear modest in the current landscape.
Despite the downgrade, B. Riley indicated that future growth in areas such as Advanced Packaging and onshore manufacturing developments could potentially lead to a more favorable outlook on Amkor's shares should these trends become more pronounced and sustained over time.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Amkor Technology Inc (AMKR, Financial) is $30.78 with a high estimate of $36.00 and a low estimate of $24.00. The average target implies an upside of 92.71% from the current price of $15.97. More detailed estimate data can be found on the Amkor Technology Inc (AMKR) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Amkor Technology Inc's (AMKR, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Amkor Technology Inc (AMKR, Financial) in one year is $25.17, suggesting a upside of 57.61% from the current price of $15.97. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Amkor Technology Inc (AMKR) Summary page.
