Amkor Technology Inc (NASDAQ:AMKR) posted better-than-expected first-quarter sales results after Monday’s closing bell.
Amkor reported quarterly earnings of nine cents per share, in line with the analyst consensus estimate. Quarterly revenue came in at $1.32 billion, which beat the $1.28 billion consensus estimate.
Amkor said it sees second-quarter earnings of between seven cents and 23 cents per share, versus the 15 cent estimate, and revenue in a range of $1.375 billion to $1.475 billion, versus the $1.33 billion estimate.
Amkor shares fell 1.8% to trade at $17.17 on Tuesday.
These analysts made changes to their price targets on Amkor following earnings announcement.
- Needham analyst Charles Shi maintained Amkor Tech with a Buy rating and lowered the price target from $34 to $22.
- DA Davidson analyst Thomas Diffely maintained the stock with a Buy rating and lowered the price target from $36 to $30.
- Morgan Stanley analyst Joseph Moore maintained Amkor Tech with an Equal-Weight rating and cut the price target from $24 to $19.
Considering buying AMKR stock? Here’s what analysts think:
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