Stock On Watch: What Will Happen to Amkor Technology, Inc. Next? The Stock Just Reaches 52-Week High

Stock On Watch: What Will Happen to Amkor Technology, Inc. Next? The Stock Just Reaches 52 Week High

The stock of Amkor Technology, Inc. (NASDAQ:AMKR) hit a new 52-week high and has $15.39 target or 53.00% above today’s $10.06 share price. The 8 months bullish chart indicates low risk for the $2.38 billion company. The 1-year high was reported on Oct, 10 by If the $15.39 price target is reached, the company will be worth $1.26 billion 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 110,869 shares traded hands. Amkor Technology, Inc. (NASDAQ:AMKR) has risen 88.24% since March 7, 2016 and is uptrending. It has outperformed by 80.64% the S&P500.

Analysts await Amkor Technology, Inc. (NASDAQ:AMKR) to report earnings on October, 24. They expect $0.20 earnings per share, up 66.67% or $0.08 from last year’s $0.12 per share. AMKR’s profit will be $47.32M for 12.58 P/E if the $0.20 EPS becomes a reality. After $0.02 actual earnings per share 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 -36.38% below today’s ($10.06) stock price. Amkor has been the topic of 8 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Zacks upgraded the stock to “Sell” rating in Tuesday, August 25 report. On Tuesday, September 15 the stock rating was downgraded by Citigroup to “Neutral”. The company was maintained on Tuesday, July 28 by Topeka Capital Markets. The stock has “Outperform” rating given by Credit Suisse on Friday, August 21. Citigroup downgraded the shares of AMKR in a report on Wednesday, May 25 to “Sell” rating. The firm has “Sell” rating by Zacks given on Tuesday, September 1. The rating was upgraded by Credit Suisse on Monday, August 24 to “Outperform”. On Thursday, April 28 the stock rating was maintained by Topeka Capital Markets with “Buy”.

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 Q2 2016. Its up 0.53, from 0.75 in 2016Q1. The ratio is positive, 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.
Top Ace Asset Limited has 92,625 shares for 0.76% of their US portfolio. Bridgeway Management Inc last reported 1.05M shares in the company. Proshare Ltd last reported 13,287 shares in the company. The California-based Blackrock Fund has invested 0% in Amkor Technology, Inc. (NASDAQ:AMKR). Zebra Capital Mgmt Limited Liability reported 82,640 shares or 0.17% of all its holdings. Thrivent Fin For Lutherans has invested 0.01% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR). Secor Advsr L P has 0.35% invested in the company for 487,332 shares. Arbiter Prtn Management Ltd Company has 509,157 shares for 0.38% of their US portfolio. Bnp Paribas Arbitrage has 9,021 shares for 0% of their US portfolio. Jacobs Levy Equity Management Inc holds 0% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR) for 34,000 shares. Spot Trading Ltd Llc has 0% invested in the company for 2,942 shares. Barclays Public Limited Com has invested 0% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR). The New York-based Morgan Stanley has invested 0% in Amkor Technology, Inc. (NASDAQ:AMKR). Matarin Capital Mgmt Lc accumulated 0% or 1.07 million shares. Bank Of New York Mellon Corporation accumulated 0% or 833,844 shares.

Insider Transactions: Since August 4, 2016, the stock had 0 buys, and 3 sales for $168,105 net activity. Stone John Charles had sold 6,600 shares worth $61,050 on Wednesday, September 7. ZUG JAMES W sold $75,600 worth of stock or 10,000 shares.

More recent Amkor Technology, Inc. (NASDAQ:AMKR) news were published by: which released: “Why Amkor Technology, Inc. Stock Jumped 21%” on August 02, 2016. Also published the news titled: “Why Shares of Amkor Technology Inc. Sank on Friday” on February 12, 2016.‘s news article titled: “Amkor Technology Opens MEMS Packaging Line in China” with publication date: June 28, 2016 was also an interesting one.

AMKR Company Profile

Amkor Technology, Inc., incorporated on October 26, 1997, is a well-known provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements, including the type of interconnect technology employed, size, thickness and electrical, and mechanical and thermal performance. It provides packaging and test services, including semiconductor wafer bump, wafer probe, wafer backgrind, package design, packaging, test and drop shipment services. The Firm provides its services to integrated device manufacturers (IDMs), fabless semiconductor companies and contract foundries. IDMs design, manufacture, package and test semiconductors in their own facilities. Fabless semiconductor companies focus on the semiconductor design process and manufacturing process.

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