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Amkor Technology Inc. (AMKR) Finding Strong Support

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Many stocks have been testing new highs in 2020, and one of the most notable is Amkor Technology Inc. (AMKR). Currently, AMKR is trading at $12.72 and the avg recommendation for the stock is Hold. while the current analyst price target stands at $11.18.

To add more color to this target, the company’s high over the last year is $15.24 and the low is $5.40. Over the last 52 weeks, AMKR is down -16.60% while the S&P 500 is up 1.21%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, AMKR reported a profit of $188.91 million. Amkor Technology Inc. also saw revenues increase to $1.15 billion. In addition, AMKR has free cash flow of $40.7 million as of 03-2020 The company’s EBITDA came in at $207.73 million which compares well with its peers.

AMKR booked profit margins of 4.80%, its Return on Equity (ROE) is 10.80%, and its Return on Assets is 4.60%. All told, it is clear that, AMKR needs to be on your watchlist.

About Amkor Technology Inc.

If readers are unfamiliar, Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services. Its packages employ wirebond, flip chip, copper clip, and other interconnect technologies. The company also provides semiconductor testing services, such as wafer and final test services; flip chip scale package products for use in smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory, and as applications processors in mobile devices; and flip chip ball grid array products for various networking, storage, computing, and consumer applications. In addition, it offers wafer-level CSP packages used in power management, transceivers, sensors, wireless charging, codecs, and specialty silicon; wafer-level fan-out packages used in ICs; and silicon wafer integrated fan-out technology, which replaces a laminate substrate with a thinner structure. Further, the company provides lead frame packages that are used in electronic devices for low to medium pin count applications; substrate-based wirebond packages, which are used to connect a die to a substrate; micro-electro-mechanical systems (MEMS) packages that are miniaturized mechanical and electro-mechanical devices; and advanced system-in-package modules, which are used in radio frequency and front end modules, basebands, connectivity, fingerprint sensors, display and touch screen drivers, sensors and MEMS, and NAND memory and solid state drives. It primarily serves integrated device manufacturers, fabless semiconductor companies, original equipment manufacturers, and contract foundries. Amkor Technology, Inc. was founded in 1968 and is headquartered in Tempe, Arizona.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. AMKR has a short ratio of 2.92 and outstanding shares of 240.92M.

Company Outlook

AMKR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.56 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.86. Amkor Technology Inc. AMKR also noted assets of $4.81 billion at the end of the last quarter. Investors should also keep an eye on sector updates as AMKR has historically followed its peers on positive news.

All told, Amkor Technology Inc. AMKR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, AMKR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Amkor Technology Inc. AMKR is now commanding a market cap of 3.06B and a float of 229.14M. AMKR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of AMKR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in AMKR, either long or short, and we have not been compensated for this article.

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