Amkor Technology price target raised to $28 from $22 at Needham

Needham analyst Charles Shi raised the firm’s price target on Amkor Technology (AMKR) to $28 from $22 and keeps a Buy rating on the shares. Amkor reported a strong beat-and-raise quarter despite the “blemish” in gross margin guidance, and sees Communications revenue growing in strong double digits sequentially, the analyst tells investors in a research note.