Citigroup Maintains Amkor Technology to Sell with Price Target $6.20

Brokerage firm Citigroup Maintains its rating on Amkor Technology(NASDAQ:AMKR). In a research note issued to the investors, the brokerage major Raises the price-target to $6.20 per share. The shares have been rated Sell. The rating by Citigroup was issued on Aug 3, 2016.

In a different note, On May 25, 2016, Citigroup said it Downgrades its rating on Amkor Technology. The shares have been rated ‘Sell’ by the firm.

Amkor Technology (AMKR) made into the market gainers list on Fridays trading session with the shares advancing 4.92% or 0.42 points. Due to strong positive momentum, the stock ended at $8.96, which is also near the day’s high of $8.985. The stock began the session at $8.58 and the volume stood at 28,03,769 shares. The 52-week high of the shares is $8.985 and the 52 week low is $4.09. The company has a current market capitalization of $2,127 M and it has 23,74,07,980 shares in outstanding.

Amkor Technology(AMKR) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $917.33M. Analysts had an estimated revenue of $876.28M. Earnings per share were $0.06. Analysts had estimated an EPS of $-0.08.

Several Insider Transactions has been reported to the SEC. On Aug 12, 2015, Winston J Churchill (director) purchased 11,300 shares at $4.35 per share price.Also, On Aug 12, 2015, Robert Randolph Morse (director) purchased 10,000 shares at $4.18 per share price.On Jul 30, 2015, Roger Anthony Carolin (director) purchased 12,000 shares at $4.49 per share price, according to the Form-4 filing with the securities and exchange commission.

Amkor Technology Inc. (Amkor) 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. It provides packaging and test services including semiconductor wafer bump wafer probe wafer backgrind package design packaging test and drop shipment services. The Company 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 focuses on the semiconductor design process and manufacturing process.

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