Today’s Featured Stock
Valued at $22.42 billion, Amkor Technology (AMKR) is the world’s largest independent provider of semiconductor packaging and test services. Also, the company is one of the leading developers of advanced semiconductor packaging and test technology. The company offers one of the industry’s broadest integrated sets of packaging and test services, which are the final procedures necessary to prepare semiconductor devices for further use. Its customers outsource the packaging and testing of semiconductor chips to the company to benefit from its expertise in development and implementation.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction, a Weighted Alpha above 50+, and a 60-month beta above 1.5. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. AMKR checks those boxes. The Trend Seeker issued a new “Buy” signal on June 12. Since then, the stock has gained 2.95%.
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www.barchart.comBarchart’s Technical Indicators for Amkor Technology
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Amkor scored an all-time high of $96.88 on June 16.
Amkor has a Weighted Alpha of +265.93. AMKR has a 100% “Buy” opinion from Barchart. The stock has gained 327.20% over the past 52 weeks. Amkor has its Trend Seeker “Buy” signal intact. The stock recently traded at $86.55 with a 50-day moving average of $72.99. AMKR has made 6 new highs and gained 31.63% over the past month. 60-month beta of 2.25. Relative Strength Index (RSI) is at 61.27. There’s a technical support level around $90.21.Don’t Forget the Fundamentals
$22.42 billion market capitalization. 51.69x trailing price-earnings ratio. 0.39% dividend yield. Analysts project revenue to grow 13.55% this year and another 10.99% next year. Earnings are estimated to increase 38.50% this year and an additional 17.77% next year.Analyst and Investor Sentiment on Amkor Technology
The Wall Street analysts followed by Barchart give the stock 2 “Strong Buy,” 1 “Moderate Buy,” and 7 “Hold” opinions with price targets between $60 and $90. Value Line rates the stock “Highest” with price targets between $29 and $121. CFRA’s MarketScope rates the stock a “Sell” and looks for the stock to drop to $62. Morningstar thinks the stock is 38% overvalued with a price target of $65.20. 19,020 investors are following the stock on Seeking Alpha, which rates it a “Hold.” Short interest is 3.36% of the float with 1.68 days to cover the float.The Bottom Line on Amkor Technology
Although both CFRA's MarketScope and Morningstar think the stock is overvalued, Value Line and the low short interest of only 3.36% of the float implies the stock still has some juice left. Not a good entry point, but hold on for a while is you already own it.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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