In a report released today, Charles Shi from Needham maintained a Buy rating on Amkor, with a price target of $37.00.
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Charles Shi’s rating is based on Amkor’s recent performance, where the company reported revenue and earnings per share slightly exceeding the high-end of their guidance. This positive outcome was driven by strong performance across its various segments, particularly in the Computing and Automotive sectors, which are expected to continue showing strength into the next calendar year.
Furthermore, Amkor’s management has identified significant growth opportunities in areas such as mobile applications processors, RF, and advanced packaging technologies like 2.5D and high-density fan-out. These prospects, coupled with the anticipated benefits from the upcoming Arizona facility, have led to an increase in the company’s future estimates. As a result, Shi has raised the price target to $37, reinforcing the Buy rating due to the promising growth trajectory and strategic advancements.
Shi covers the Technology sector, focusing on stocks such as Lam Research, Amkor, and Cadence Design. According to TipRanks, Shi has an average return of 12.1% and a 52.97% success rate on recommended stocks.
In another report released on October 23, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $36.00 price target.