Amkor Technology Inc. (AMKR) Sees Large Volume Increase
Amkor Technology Inc. (NASDAQ:AMKR) shares saw strong trading volume on Wednesday . 2,465,960 shares traded hands during trading, an increase of 7% from the previous session’s volume of 2,306,359 shares.The stock last traded at $9.48 and had previously closed at $8.94.
A number of equities analysts have weighed in on the company. Topeka Capital Markets boosted their price target on Amkor Technology from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, April 28th. Zacks Investment Research upgraded Amkor Technology from a “hold” rating to a “strong-buy” rating and set a $8.75 price objective for the company in a report on Wednesday, August 3rd. Credit Suisse Group AG cut Amkor Technology from an “outperform” rating to a “neutral” rating in a report on Thursday, April 28th. Deutsche Bank AG boosted their price objective on Amkor Technology from $6.00 to $7.50 and gave the stock a “hold” rating in a report on Tuesday, August 2nd. Finally, Citigroup Inc. cut Amkor Technology from a “neutral” rating to a “sell” rating in a report on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.99.
The company has a market capitalization of $2.23 billion and a price-to-earnings ratio of 83.10. The stock’s 50 day moving average is $6.86 and its 200 day moving average is $5.92.
Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.10. The firm earned $917 million during the quarter, compared to analysts’ expectations of $876.28 million. During the same quarter last year, the business posted $0.08 EPS. The company’s quarterly revenue was up 24.4% on a year-over-year basis. On average, equities analysts predict that Amkor Technology Inc. will post $0.42 EPS for the current year.
In other Amkor Technology news, Director James W. Zug sold 10,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $7.56, for a total value of $75,600.00. Following the completion of the sale, the director now owns 55,828 shares in the company, valued at approximately $422,059.68. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several large investors recently modified their holdings of AMKR. Bank of Montreal Can raised its stake in shares of Amkor Technology by 346.6% in the fourth quarter. Bank of Montreal Can now owns 498,882 shares of the company’s stock valued at $3,034,000 after buying an additional 387,186 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Amkor Technology by 28.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 431,325 shares of the company’s stock valued at $2,622,000 after buying an additional 96,350 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Amkor Technology by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 804,159 shares of the company’s stock valued at $4,889,000 after buying an additional 22,800 shares during the last quarter.
Amkor Technology, Inc is a 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.
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