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Why Amkor Technology Stock Is Tumbling Today

·2 min read
Why Amkor Technology Stock Is Tumbling Today

Shares of Amkor Technology (NASDAQ: AMKR), a semiconductor packaging and test services company, were falling today after the company's stock received a downgrade from Credit Suisse analyst Randy Abrams. Abrams downgraded Amkor's stock to a neutral rating, down from outperform, and put a price target on the stock of $27, which was down from $28.50. Of course, investors don't like to see a stock get downgraded or for its target price to be lowered, so it's no surprise that Amkor's stock took a hit today.