Amkor Technology price target raised to $45 from $40 at Needham

Needham analyst Charles Shi raised the firm’s price target on Amkor Technology to $45 from $40 and keeps a Buy rating on the shares after its Q2 earnings beat. The company’s “slight” Q3 guidance mis should not diminish its growing strength, the analyst tells investors in a research note. Needham further notes that Amkor management hinted that high-end martphones, laptops, and wearable devices are ramping rapidly in the second half of the year as planned.