UPDATE: Topeka Capital Markets Initiates Coverage on Amkor Technology with Buy Rating, $5 PT on Multiple Positive Factors

In a report published Friday, Topeka Capital Markets analyst Suji De Silva initiated coverage on Amkor Technology AMKR with a Buy rating and $5.00 price target. In the report, Topeka Capital Markets noted, “We are initiating coverage of Amkor Technology with a Buy rating and a $5.00 price target. While AMKR margins and utilization are exposed to overall semiconductor unit demand, we are encouraged by the Company's strength at the high-end of the OSAT market. As a result, we believe that AMKR can drive higher capital efficiency, margins, and return on invested capital than its competitors. We expect these metrics to further improve as the Company drives consolidation in the OSAT industry.” Amkor Technology closed on Thursday at $4.37.