Amkor Technology (AMKR) shares were down about 9% in recent Tuesday trading following its quarterly results that led some analysts to cut their price targets.
Late Monday, Amkor reported Q4 earnings of $0.43 per share on sales of $1.63 billion, compared with analyst estimates of $0.37 for EPS on revenue of $1.66 billion in a FactSet poll.
For Q1, it expects earnings of $0.01 to $0.17 per share on net sales of $1.23 billion to $1.33 billion. Analysts polled by FactSet expected $0.28 and $1.42 billion, respectively.
After the results, UBS cut its price target to $27.65 from $32.50, pointing to "soft 2025 outlook due to mobile content loss and computing product transition." It kept its neutral rating.
Morgan Stanley also lowered its price target to $24 from $26, and B. Riley to $32 from $38.
Trading volume stood at over 2.2 million shares against a daily average of roughly 1.3 million.
Price: 22.19, Change: -2.17, Percent Change: -8.91
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