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Investing.com - DA Davidson raised its price target on Amkor Technology (NASDAQ:AMKR) to $40.00 from $30.00 on Tuesday, while maintaining a Buy rating on the semiconductor packaging company. The new target represents significant upside potential for the stock, which has already delivered an impressive 80.41% return over the past six months. According to InvestingPro data, Amkor, with its $7.33B market cap, is currently trading near its 52-week high of $33.54.
The price target increase follows what DA Davidson described as a "solid" third quarter performance from Amkor, with fourth-quarter guidance that was in-line to slightly positive compared to Street expectations. InvestingPro analysis shows the company maintains a healthy financial position with a "GOOD" overall score, despite operating with relatively modest gross margins of 13.58%. For deeper insights into Amkor’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
DA Davidson highlighted that several end markets are showing signs of firming, and longer-term demand for Amkor’s new Arizona facility continues to rise, contributing to the firm’s bullish outlook on the stock.
Amkor also announced that CEO Giel Rutten intends to retire as president and CEO at the end of 2025, with Chief Operating Officer Kevin Engel set to assume the CEO role.
While the retirement announcement was unexpected, DA Davidson expects a smooth transition, noting that Engel has been with Amkor for over 20 years in various management positions for U.S. and Taiwan operations, and Rutten will remain on the company’s Board.
In other recent news, Amkor Technology reported impressive third-quarter 2025 earnings, with earnings per share hitting $0.51, surpassing the forecast of $0.43. The company’s revenue also exceeded expectations, reaching $1.99 billion compared to the anticipated $1.93 billion. This strong performance was attributed to broad-based strength across all of Amkor’s reporting segments. Additionally, Needham raised its price target for Amkor Technology to $37 from $32, maintaining a Buy rating due to growth in the automotive sector. Meanwhile, KeyBanc Capital Markets retained its Sector Weight rating on Amkor Technology, highlighting improvements in the company’s Communications and Auto/Industrial markets. KeyBanc also noted Amkor’s efforts in optimizing its operational footprint. These developments reflect positive momentum for Amkor Technology in recent times.
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