Amkor Technology (AMKR) is Downgraded by Citigroup to Sell

Amkor Technology (AMKR) was Downgraded by Citigroup to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on May 25, 2016.

Many Wall Street Analysts have commented on Amkor Technology. Amkor Technology was Downgraded by Credit Suisse to ” Neutral” on Apr 28, 2016. Company shares were Reiterated by Topeka Capital Markets on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 7 from a previous price target of $6 .

On the company’s financial health, Amkor Technology reported $0.02 EPS for the quarter, based on the information available during the earnings call on Feb 11, 2016. Analyst had a consensus estimate of $0.02. The company had revenue of $671.00 million for the quarter, compared to analysts expectations of $688.43 million. The company’s revenue was down -21.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Amkor Technology opened for trading at $5.59 and hit $5.835 on the upside on Friday, eventually ending the session at $5.82, with a gain of 4.30% or 0.24 points. The heightened volatility saw the trading volume jump to 7,63,681 shares. Company has a market cap of $1,381,476 M.

In a different news, on Aug 12, 2015, Winston J Churchill (director) purchased 11,300 shares at $4.35 per share price. According to the SEC, on Aug 12, 2015, Robert Randolph Morse (director) purchased 10,000 shares at $4.18 per share price. On Jul 30, 2015, Roger Anthony Carolin (director) purchased 12,000 shares at $4.49 per share price, according to the Form-4 filing with the securities and exchange commission.

Amkor Technology Inc. (Amkor) is a provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements including the type of interconnect technology employed size thickness and electrical and mechanical and thermal performance. It provides packaging and test services including semiconductor wafer bump wafer probe wafer backgrind package design packaging test and drop shipment services. The Company provides its services to integrated device manufacturers (IDMs) fabless semiconductor companies and contract foundries. IDMs design manufacture package and test semiconductors in their own facilities. Fabless semiconductor companies focuses on the semiconductor design process and manufacturing process.

Amkor Technology

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Amkor Technology - Is it time to Sell?

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