Using evaluateImage to reduce opacity in an image.
<?php
// Create new object with the image
$im = new Imagick('example-alpha.png');
// Reduce the alpha by 50%
$im->evaluateImage(Imagick::EVALUATE_DIVIDE, 2, Imagick::CHANNEL_ALPHA);
// Output the image
header("Content-Type: image/png");
echo $im;
?>