On Tuesday, Amkor Technology (AMKR) experienced a significant boost in its Relative Strength (RS) Rating, moving from 79 to 84. This score, which falls on a scale of 1 to 99, compares a stock’s price performance over the past 52 weeks to all other stocks in a database. Stocks with an RS Rating above 80 at the start of their biggest price movements tend to see the most substantial gains.
Amkor Technology is currently consolidating with an entry point of 37.00, and investors are closely monitoring whether the chip stock will break out in heavy trading. In the most recent quarter, the company posted growth in both its top and bottom lines, with earnings increasing by 33% compared to -28% in the previous report and revenue rising from -8% to -7%.
In terms of market rankings, Amkor Technology holds the seventh spot among its peers in the Electronics-Semiconductor Manufacturing industry group. Other highly rated stocks in this group include Taiwan Semiconductor ADR (TSM), NXP Semiconductors (NXPI), and ChipMOS Technologies ADR (IMOS). For up-to-date industry news and investment tools, investors can check out “Chip Stocks To Watch And Semiconductor Industry News,” as well as IBD’s offerings for market timing, growth stock research, and long-term investments.