Amkor Technology price target lowered to $30 from $42 at JPMorgan

JPMorgan lowered the firm’s price target on Amkor Technology (AMKR) to $30 from $42 and keeps an Overweight rating on the shares. The company reported slightly lower December quarter revenue, which reflected challenging macro demand trends combined with the impact of content loss for the iPhone 16, the analyst tells investors in a research note. However, JPMorgan believes Amkor T is managing through a challenging macro and market environment. The company is poised to benefit from the semiconductor recovery, albeit more gradually than anticipated, the firm contends.