Amkor Technology Coverage Initiated at Topeka Capital Markets (AMKR)
Analysts at Topeka Capital Markets initiated coverage on shares of Amkor Technology (NASDAQ: AMKR) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
The analysts wrote, “We are initiating coverage of Amkor Technology with a Buy rating and a $5.00 price target. While AMKR margins and utilization are exposed to overall semiconductor unit demand, we are encouraged by the Company’s strength at the high-end of the OSAT market. As a result, we believe that AMKR can drive higher capital efficiency, margins, and return on invested capital than its competitors. We expect these metrics to further improve as the Company drives consolidation in the OSAT industry.”
Shares of Amkor Technology (NASDAQ: AMKR) traded up 0.69% during mid-day trading on Friday, hitting $4.40. Amkor Technology has a one year low of $3.55 and a one year high of $5.91. The stock’s 50-day moving average is currently $3.. The company has a market cap of $673.9 million and a P/E ratio of 17.55.
Amkor Technology (NASDAQ: AMKR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.02. The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $672.35 million. During the same quarter last year, the company posted $0.09 earnings per share. Amkor Technology’s revenue was up 5.0% compared to the same quarter last year. Amkor Technology has set its Q2 guidance at $0.09-0.19 EPS. Analysts expect that Amkor Technology will post $0.57 EPS for the current fiscal year.
Amkor Technology, Inc. (NASDAQ: AMKR) is subcontractor of semiconductor packaging and test services.
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