Amkor Technology (AMKR) shares climbed approximately 9% on Thursday. BofA Securities initiated coverage on the stock with a Buy rating and a $70 price target. This valuation represents a 45% premium over the previous closing price.
BofA cited Amkor’s critical role in the artificial intelligence and high-performance computing supply chains. Analysts highlighted rising demand for complex semiconductor packaging.
The firm also noted the strategic value of Amkor’s upcoming Arizona facility for major clients. BofA suggests the market currently undervalues the company's shift toward advanced, high-value products.