Amkor Technology, Inc. (NASDAQ:AMKR) Up 11.27%, Extreme Networks, Inc. (NASDAQ:EXTR) Also Up 5.52%

Posted by Ryan Mandell April 26, 2013 0 Comment 1258 views

Northern, WI 04/26/2013 (GDPInsider) –  Amkor Technology, Inc. (NASDAQ:AMKR) opened today’s trading at $4.20 and is currently up 11.27% on trading volume of 932.94K. The stock’s trading range is $4.09 and $4.36. The stock is trading down 26.73% on its 52-week high but up 21.97% on its 52-week low. These trading values come sharply on the heels of yesterday’s earnings call which was carried out by the company’s CEO and President, Mr Ken Joyce.

In the earnings call, Mr Joyce emphasized that there would be forward looking statements before delving into the numbers. Amkor reported Q1 2013 sales of $688 million. Earnings per share of $0.07 was reported on a gross margin of 17%. According to Joyce, those figures were all at the high end of the management’s expectations.

Mr Joyce also gave some insight into the strategic focus of Amkor, emphasizing that mobile was a key part of the strategic outlook. “Mobile communications is a strategic focus for us and our communications revenue grew around $90 million or 30% over the first quarter of 2012 and represented 59% of our total sales in the first quarter,” said Joyce.

Is AMKR a solid investment at these levels? Get exclusive data and trends here.

Extreme Networks, Inc. (NASDAQ:EXTR) started the day’s trading with an opening value of $3.29 and is up 5.52% on a trading volume of 572.22K. The stock is recovering slightly from flat trading characterized by its technical data. Right now the stock is trading just 1.58% above its 20-day moving average but is down 5.41% on its 50-day moving average. An RSI of 49.20 indicates that the stock is neither in overbought or undersold territory. EXTR has a current P/E of 15.40 but forward P/E is tipped to be 9.62.

The stock seems to be holding steady despite recent upheavals inside the company. Extreme Networks announced yesterday (April 25) that Oscar Rodriquez resigned both his post as CEO and as member of the company’s board. This announcement was swiftly followed by news that the company was with immediate effect, appointing Charles W. “Chuck” Berger as the company’s new CEO with a spot on the board of directors.

How Should Investors Trade EXTR Now? Get exclusive insights and updates here.


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About Ryan Mandell

Ryan Mandell is our senior staff writer covering the White House for Political Report, Ryan also coordinates with the main newsroom news items and contributing write-ups on cultural, social and political activities. Ryan holds an undergraduate degree in journalism, a Doctorate in international relations and a Master Degree in mass communications with an emphasis in print journalism. Ryan also covered the International Society of Social Defense congress in Spain in 2007 and taken part in the Global Forum on economic policies

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