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Here's Why Amkor Technology (AMKR) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Amkor Technology (AMKR)

Amkor Technology, Inc. is headquartered in Tempe, AZ. The company is one of the largest providers of semiconductor packaging and test services. It packages and tests integrated circuits (ICs) for chip manufacturers, fabless semiconductor companies and contract foundries. The company’s product portfolio is composed of Advanced Products and Mainstream Products.

AMKR sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 1.5% and up 11.3% over the past one-week and four-week period, respectively, and Amkor Technology has gained 41.8% in the last one-year period as well. Additionally, an average of 990,675.13 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for AMKR, while the Zacks Consensus Estimate has increased $0.15 to $1.78 per share. AMKR also boasts an average earnings surprise of 44.3%.

Investors should take the time to consider AMKR for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Amkor Technology, Inc. (AMKR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research