The stock of Amkor Technology, Inc. (NASDAQ:AMKR) hit a new 52-week high and has $14.30 target or 39.00% above today’s $10.29 share price. The 8 months bullish chart indicates low risk for the $2.46B company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $14.30 price target is reached, the company will be worth $959.40M 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 1.92 million shares traded hands or 102.36% up from the average. Amkor Technology, Inc. (NASDAQ:AMKR) has risen 59.83% since March 30, 2016 and is uptrending. It has outperformed by 56.81% 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 -37.80% below today’s ($10.29) stock price. Amkor has been the topic of 8 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was downgraded by Citigroup to “Sell” on Wednesday, May 25. Credit Suisse upgraded the stock to “Outperform” rating in Monday, August 24 report. On Tuesday, August 25 the stock rating was upgraded by Zacks to “Sell”. The firm earned “Outperform” rating on Friday, August 21 by Credit Suisse. Topeka Capital Markets maintained the stock with “Buy” rating in Thursday, April 28 report. As per Tuesday, September 1, the company rating was upgraded by Zacks. Topeka Capital Markets maintained the shares of AMKR in a report on Tuesday, July 28 with “Buy” rating. The rating was downgraded by Citigroup to “Neutral” on Tuesday, September 15.
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.
Blackrock Invest Mgmt Limited Liability Company holds 0% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR) for 407,463 shares. Stevens Limited Partnership holds 0% or 11,316 shares in its portfolio. Deutsche Natl Bank Ag holds 85,500 shares or 0% of its portfolio. Peak6 Invs Lp holds 14,410 shares or 0% of its portfolio. Morgan Stanley, a New York-based fund reported 629,354 shares. Price T Rowe Assocs Md last reported 0% of its portfolio in the stock. Federated Invsts Pa accumulated 9,030 shares or 0% of the stock. The California-based California Pub Employees Retirement Systems has invested 0.01% in Amkor Technology, Inc. (NASDAQ:AMKR). Goldman Sachs Grp Inc has 208,524 shares for 0% of their US portfolio. Matarin Cap Mgmt Ltd reported 1.07M shares or 0% of all its holdings. Engineers Gate Manager L P last reported 24,985 shares in the company. Art Advsrs Lc has invested 0.01% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR). Teachers Advisors has invested 0% of its portfolio in Amkor Technology, Inc. (NASDAQ:AMKR). Moreover, First Trust Advsr Lp has 0.01% invested in Amkor Technology, Inc. (NASDAQ:AMKR) for 286,735 shares. Commercial Bank Of America De accumulated 28,280 shares or 0% of the stock.
Insider Transactions: Since August 4, 2016, the stock had 0 buys, and 3 selling transactions for $168,105 net activity. On Thursday, August 4 ZUG JAMES W sold $75,600 worth of the stock or 10,000 shares. $31,455 worth of Amkor Technology, Inc. (NASDAQ:AMKR) was sold by Stone John Charles on Friday, September 2.
More notable recent Amkor Technology, Inc. (NASDAQ:AMKR) news were published by: Seekingalpha.com which released: “Amkor Technology +5.7%; 48% Q3 revenue increase posted” on October 31, 2016, also Fool.com with their article: “Why Amkor Technology, Inc. Stock Jumped 21%” published on August 02, 2016, Fool.com published: “Why Shares of Amkor Technology Inc. Sank on Friday” on February 12, 2016. More interesting news about Amkor Technology, Inc. (NASDAQ:AMKR) were released by: Prnewswire.com and their article: “How These Semiconductor Stocks are Faring? — Xilinx, Amkor Technology …” published on October 28, 2016 as well as Businesswire.com‘s news article titled: “Amkor Technology Opens MEMS Packaging Line in China” with publication date: June 28, 2016.
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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