Amkor Technology price target raised to $35 from $30 at DA Davidson

DA Davidson raised the firm’s price target on Amkor Technology to $35 from $30 and keeps a Buy rating on the shares. The company’s Q4 results topped estimates while its Q1 outlook was softer, the analyst tells investors in a research note, also citing Amkor Technology registering sequential declines in all four end markets that overshadowed robust activity in advanced packaging. Activity will likely remain muted until inventories reset and a normal mid-year ramp starts, though the firm is boosting its price target to reflect the company’s long-term growth, DA Davidson added.