Amkor Technology Stock Rating Reaffirmed by Citigroup Inc. (AMKR)
Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reiterated by analysts at Citigroup Inc. in a research report issued to clients and investors on Friday. They currently have a $11.50 target price on the stock, up from their previous target price of $8.25. Citigroup Inc.’s target price would suggest a potential upside of 32.49% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse downgraded shares of Amkor Technology from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 29th. Separately, analysts at Deutsche Bank raised their price target on shares of Amkor Technology from $7.00 to $10.00 in a research note on Tuesday, July 29th. They now have a “hold” rating on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Amkor Technology from $9.00 to $13.00 in a research note on Monday, July 14th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Amkor Technology has a consensus rating of “Hold” and a consensus target price of $11.50.
Shares of Amkor Technology (NASDAQ:AMKR) traded up 1.96% during mid-day trading on Friday, hitting $8.85. The stock had a trading volume of 437,711 shares. Amkor Technology has a 1-year low of $4.00 and a 1-year high of $12.27. The stock’s 50-day moving average is $10.53 and its 200-day moving average is $8.23. The company has a market cap of $2.098 billion and a P/E ratio of 14.76.
Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, July 28th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.06. The company had revenue of $767.00 million for the quarter, compared to the consensus estimate of $761.40 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Amkor Technology will post $0.81 earnings per share for the current fiscal year.
In other Amkor Technology news, EVP Choon Heung Lee sold 17,752 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $9.08, for a total value of $161,188.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Amkor Technology, Inc (NASDAQ:AMKR) is a provider of outsourced semiconductor packaging (assembly) and test services.
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