Charles Shi, an analyst from Needham, maintained the Buy rating on Amkor (AMKR – Research Report). The associated price target is $34.00.
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Charles Shi’s rating is based on Amkor’s future growth prospects despite the current challenges. The company has faced setbacks due to last year’s loss in high-end smartphone sockets, which has impacted recent financial performance. However, Amkor’s management is optimistic about regaining a pivotal position in the high-end smartphone market, which is expected to drive growth in the latter half of 2025.
Despite the weak initial guidance for the first quarter of 2025, the long-term outlook remains positive as the company anticipates low single-digit growth in the entire year. This potential for recovery and growth in the high-end smartphone sector supports the Buy rating, as the company is strategically positioned to capitalize on these opportunities moving forward.
According to TipRanks, Shi is a 4-star analyst with an average return of 5.2% and a 44.97% success rate. Shi covers the Technology sector, focusing on stocks such as KLA, Kulicke & Soffa, and Applied Materials.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $30.00 price target.