Today’s Price Action: Could Amkor Technology, Inc. Change Direction After Achieving 52-Week High?

Today's Price Action: Could Amkor Technology, Inc. Change Direction After Achieving 52 Week High?

The stock of Amkor Technology, Inc. (NASDAQ:AMKR) hit a new 52-week high and has $18.11 target or 47.00% above today’s $12.32 share price. The 6 months bullish chart indicates low risk for the $3.00B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $18.11 price target is reached, the company will be worth $1.41 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 84,352 shares traded hands. Amkor Technology, Inc. (NASDAQ:AMKR) has risen 121.21% since April 19, 2016 and is uptrending. It has outperformed by 117.35% the S&P500.

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 -48.05% below today’s ($12.32) stock price. Amkor has been the topic of 8 analyst reports since July 28, 2015 according to StockzIntelligence Inc. As per Friday, August 21, the company rating was upgraded by Credit Suisse. Topeka Capital Markets maintained Amkor Technology, Inc. (NASDAQ:AMKR) rating on Tuesday, July 28. Topeka Capital Markets has “Buy” rating and $6 price target. The stock of Amkor Technology, Inc. (NASDAQ:AMKR) earned “Sell” rating by Citigroup on Wednesday, May 25. Citigroup downgraded it to “Neutral” rating and $5.80 target price in Tuesday, September 15 report. The firm earned “Buy” rating on Thursday, April 28 by Topeka Capital Markets. The stock has “Sell” rating given by Zacks on Tuesday, August 25. The stock of Amkor Technology, Inc. (NASDAQ:AMKR) earned “Sell” rating by Zacks on Tuesday, September 1. On Monday, August 24 the stock rating was upgraded by Credit Suisse to “Outperform”.

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 1.45 in Q2 2016. Its up 0.17, from 1.28 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.
Tiaa Cref Inv Mngmt Limited Liability holds 0% or 342,466 shares in its portfolio. Moreover, Bnp Paribas Arbitrage has 0% invested in Amkor Technology, Inc. (NASDAQ:AMKR) for 9,021 shares. Brandywine Global Management Limited Company reported 655,774 shares or 0.03% of all its holdings. Rhumbline Advisers accumulated 0% or 123,539 shares. The California-based Schwab Charles Investment Mngmt has invested 0.01% in Amkor Technology, Inc. (NASDAQ:AMKR). Jpmorgan Chase And has 0% invested in the company for 3.43M shares. Walleye Trading Limited Liability Corporation has invested 0% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR). Bridgeway Mngmt reported 1.05M shares or 0.09% of all its holdings. Citigroup has 0% invested in the company for 82,835 shares. Group One Trading L P has 0% invested in the company for 12,329 shares. Moreover, Parametric Assocs Ltd Liability Corp has 0.01% invested in Amkor Technology, Inc. (NASDAQ:AMKR) for 923,075 shares. Northern Tru reported 3.27 million shares or 0.01% of all its holdings. Acadian Asset Management Limited Liability Corp has 0.01% invested in the company for 242,097 shares. The Pennsylvania-based Nationwide Fund has invested 0.01% in Amkor Technology, Inc. (NASDAQ:AMKR). Cipher Lp holds 0.02% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR) for 59,527 shares.

Insider Transactions: Since August 4, 2016, the stock had 0 buys, and 10 sales for $7.00 million net activity. 100,000 shares were sold by Kelley Stephen Douglas, worth $1.13M. 6,600 shares were sold by Stone John Charles, worth $61,050 on Wednesday, September 7. Shares for $334,650 were sold by Rutten Guillaume Marie Jean. $75,600 worth of Amkor Technology, Inc. (NASDAQ:AMKR) was sold by ZUG JAMES W on Thursday, August 4.

More news for Amkor Technology, Inc. (NASDAQ:AMKR) were recently published by: Fool.com, which released: “Why Amkor Technology, Inc. Stock Jumped” on November 01, 2016. Fool.com‘s article titled: “Why Amkor Technology, Inc. Stock Jumped 21%” and published on August 02, 2016 is yet another important article.

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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