Amkor Technology price target lowered to $32 from $38 at B. Riley

B. Riley lowered the firm’s price target on Amkor Technology (AMKR) to $32 from $38 and keeps a Buy rating on the shares. The company’s Q4 report was mixed versus consensus with lower sales and in-line gross margin, while the Q1 outlook “undershot” as lower communications and auto more than offset artificial intelligence’s strength, the analyst tells investors in a research note. The firm believes Amkor is making the right strategic, technology, customer, regional reshoring, and new product moves to position for potential earnings reacceleration.