Amkor Technology price target raised to $50 from $37 at Needham

Needham raised the firm’s price target on Amkor Technology (AMKR) to $50 from $37 and keeps a Buy rating on the shares. The firm upped its 2026 artificial intelligence wafer demand forecast citing strong graphics processing unit and application-specific integrated circuit “upsides that emerged over the past quarter.” Needham says the long-range chip-on-wafer-on-substrate demand should have a much higher peak than previously thought. It sees Amkor as a “clear CoWoS winner over the next five years.”