NEW YORK (TheStreet) -- Shares of Amkor Technology (AMKR) - Get Amkor Technology Inc. Report were gaining by 12.7% to $6.37 on heavy trading volume Tuesday afternoon, after the semiconductor product packaging company beat analysts' earnings estimates for the 2015 third quarter.
On Monday, Amkor Technology reported earnings of 12 cents a share for the third quarter, above analysts' estimates of 4 cents a share for the quarter. Revenue fell 9.7% year over year to $734 million for the quarter, beating analysts' estimates of $725.02 million.
"Third quarter revenues were at the higher end of our expectations and roughly flat to Q2," President and CEO Steve Kelley said in a statement. "Third quarter profit exceeded expectations, largely due to favorable exchange rates and a richer mix of assembly and test services."
Amkor Technology is expecting to report between a loss of 2 cents and a profit of 5 cents a share and revenue of $660 million to $710 million for the fourth quarter. Analysts expect the company to report earnings of 7 cents a share and revenue of $740.89 million for the quarter.
About 5.3 million shares of Amkor Technology were traded by 3:26 p.m. Tuesday, above the company's average trading volume of about 1.7 million shares a day.
Separately, TheStreet Ratings team rates AMKOR TECHNOLOGY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate AMKOR TECHNOLOGY INC (AMKR) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its reasonable valuation levels, considering its current price compared to earnings, book value and other measures. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: AMKR