Price Action Alert: After Making 52-Week High, Is Amkor Technology, Inc.’s Near-Term Analysis Positive?

Price Action Alert: After Making 52 Week High, Is Amkor Technology, Inc.'s Near Term Analysis Positive?

The stock of Amkor Technology, Inc. (NASDAQ:AMKR) hit a new 52-week high and has $12.23 target or 26.00% above today’s $9.71 share price. The 8 months bullish chart indicates low risk for the $2.29B company. The 1-year high was reported on Sep, 30 by If the $12.23 price target is reached, the company will be worth $595.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 649,108 shares traded hands. Amkor Technology, Inc. (NASDAQ:AMKR) has risen 86.33% since February 26, 2016 and is uptrending. It has outperformed by 75.90% the S&P500.

Analysts await Amkor Technology, Inc. (NASDAQ:AMKR) to report earnings on October, 24. They expect $0.20 EPS, up 66.67% or $0.08 from last year’s $0.12 per share. AMKR’s profit will be $47.17 million for 12.14 P/E if the $0.20 EPS becomes a reality. After $0.02 actual EPS reported by Amkor Technology, Inc. for the previous quarter, Wall Street now forecasts 900.00% EPS growth.

Amkor Technology, Inc. (NASDAQ:AMKR) Ratings Coverage

Out of 3 analysts covering Amkor (NASDAQ:AMKR), 2 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 67% are positive. $7 is the highest target while $5.80 is the lowest. The $6.40 average target is -34.09% below today’s ($9.71) stock price. Amkor has been the topic of 8 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was upgraded by Zacks to “Sell” on Tuesday, September 1. Citigroup downgraded the stock to “Neutral” rating in Tuesday, September 15 report. Credit Suisse upgraded the shares of AMKR in a report on Monday, August 24 to “Outperform” rating. The rating was maintained by Topeka Capital Markets with “Buy” on Thursday, April 28. The firm has “Buy” rating given on Tuesday, July 28 by Topeka Capital Markets. On Wednesday, May 25 the stock rating was downgraded by Citigroup to “Sell”. As per Friday, August 21, the company rating was upgraded by Credit Suisse. Zacks upgraded the shares of AMKR in a report on Tuesday, August 25 to “Sell” rating.

According to Zacks Investment Research, “Amkor is the world’s largest independent provider of semiconductor packaging and test services. Also, the company is one of the leading developers of advanced semiconductor packaging and test technology. The company offers one of the industry’s broadest integrated sets of packaging and test services, which are the final procedures necessary to prepare semiconductor devices for further use. Its customers outsource the packaging and testing of semiconductor chips to the company in order to benefit from the our expertise in the development and implementation.”

Insitutional Activity: The institutional sentiment increased to 1.28 in 2016 Q2. Its up 0.53, from 0.75 in 2016Q1. The ratio improved, as 17 funds sold all Amkor Technology, Inc. shares owned while 37 reduced positions. 27 funds bought stakes while 42 increased positions. They now own 74.52 million shares or 6.13% less from 79.39 million shares in 2016Q1.
Northern Trust holds 0.01% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR) for 3.27 million shares. Hanson Doremus Investment Mngmt reported 180,123 shares or 0.47% of all its holdings. Jacobs Levy Equity Management accumulated 34,000 shares or 0% of the stock. Connor Clark Lunn Investment Mgmt Limited last reported 463,150 shares in the company. Jpmorgan Chase accumulated 3.43 million shares or 0% of the stock. Denali Advsrs Limited Liability Company reported 270 shares or 0% of all its holdings. Thrivent Financial For Lutherans last reported 0.01% of its portfolio in the stock. Bnp Paribas Arbitrage holds 0% or 9,021 shares in its portfolio. Credit Suisse Ag has invested 0% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR). Gp One Trading L P accumulated 12,329 shares or 0% of the stock. The Pennsylvania-based Federated Inc Pa has invested 0% in Amkor Technology, Inc. (NASDAQ:AMKR). Teacher Retirement Systems Of Texas, a Texas-based fund reported 15,039 shares. Gsa Capital Llp holds 273,595 shares or 0.09% of its portfolio. Retail Bank Of America De reported 28,280 shares or 0% of all its holdings. Aperio Group Inc Ltd last reported 12,187 shares in the company.

Insider Transactions: Since August 4, 2016, the stock had 0 buys, and 3 sales for $168,105 net activity. Another trade for 6,600 shares valued at $61,050 was made by Stone John Charles on Wednesday, September 7. ZUG JAMES W sold $75,600 worth of stock.

More news for Amkor Technology, Inc. (NASDAQ:AMKR) were recently published by:, which released: “Why Amkor Technology, Inc. Stock Jumped 21%” on August 02, 2016.‘s article titled: “Amkor Technology Opens MEMS Packaging Line in China” and published on June 28, 2016 is yet another important article.

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