Amkor Technology price target lowered to $34 from $38 at KeyBanc

KeyBanc analyst Steve Barger lowered the firm’s price target on Amkor Technology (AMKR) to $34 from $38 and keeps an Overweight rating on the shares. The firm notes Amkor reported a modest Q3 EPS miss but guided Q4 well below, resulting in a double-digit share price decline after hours. The weak guidance primarily stems from the Communications end market, with Amkor citing a smartphone build schedule that is deviating from normal historical trends, KeyBanc adds.