Analyst Laura Martin of Needham reiterated a Buy rating on Amkor, with a price target of $28.00.
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Laura Martin’s rating is based on Amkor’s impressive financial performance in the recent quarter, where the company exceeded expectations despite a slight issue with gross margin guidance. The strong growth in Communications revenue, particularly from high-end smartphones, is a significant factor contributing to this positive outlook, with expectations of a substantial sequential increase.
Additionally, Amkor anticipates growth in the Computing sector and is optimistic about its prospects in 2.5D technology following the lifting of H20 restrictions. The revival of previous bullish scenarios involving major clients like NVDA and AAPL further supports the positive sentiment. Consequently, Martin has increased estimates and raised the price target to $28, reaffirming a Buy rating.
In another report released on July 25, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $23.50 price target.