Amkor Technology, Inc. (NASDAQ:AMKR) - Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers packaging solutions, including leadframe and substrate packages using wire bond and flip chip interconnect technologies. It provides flip chip and wafer level packages in which the semiconductor die is connected directly to the package substrate or system board; three dimensional (3D) package-on-package and stacked chip scale packages in which the individual chips or individual packages are stacked vertically to provide integration of logic and memory; stacked chip scale packages, which include high density memory die stacks; advanced leadframe packages, which are thinner and smaller packages; multi-chip or system-in-package modules used in mobile phones and other handheld end-products; packages for micro-electromechanical system devices that are used in automotive, industrial, and consumer electronics markets; and copper pillar flip chips.
Valuation and Price Targets – Amkor Technology sells for just over 8 times this year's earnings and 6 times 2012's consensus. ABX sells for less than .9 its expected PEG and .43 times trailing revenues. AMKR has been impacted by the aftermath of the Japan tragedy. It was selling at over $8 prior to the earthquake and now goes for $6.29. It is selling in the bottom quarter of its five year valuation range based on P/E, P/B, P/CF and P/S. Price targets are $9 at Credit Suisse, $8 at S&P and Citigroup has their target at $10.
General Electric (NYSE:GE) - General Electric Company operates as a technology, media, and financial services company worldwide. Its Energy Infrastructure segment produces gas, steam, and aero derivative turbines; generators; combined cycle systems; and renewable energy solutions, as well as provides water treatment services and equipment. This segment also sells surface and subsea drilling and production systems, floating production platform equipment, compressors, turbines, turboexpanders, and high pressure reactors to oil and gas companies. The company's Technology Infrastructure segment manufactures jet engines, turboprop and turbo shaft engines, and its replacement parts for use in military and commercial aircraft, as well as provides repair and maintenance services. This segment also produces healthcare products, including diagnostic imaging systems; offers transportation products and maintenance services; provides enterprise solutions using sensors for temperature, pressure, moisture, gas and flow rate, as well as non-destructive testing inspection equipment. The company's Capital Finance segment offers commercial lending and leasing products to manufacturers, distributors, and end-users of equipment and capital assets; consumer financial services to consumers and retailers; capital and investment solutions for real estate; commercial finance to the energy and water industries; and commercial aircraft leasing and finance, and fleet and financing solutions. Its Consumer & Industrial segment produces various home appliances, lighting products, and electrical equipment and control products, as well as provides related services.
Valuation and Price Targets – GE sells at around 14 times this year's and less than 12 times 2012's projected earnings. GE has significantly exceeded earnings estimates each of the last four quarters. General Electric is selling for a PEG of 1 and consensus earnings have been raised over the last ninety days for both 2011 and 2012. It pays a solid dividend of 3.1%. Stock has seen net insider buying. GE is currently selling at $19.39. Price targets are $24 at S&P and $23 at both Credit Suisse and Deutsche Bank.
Huntington Bancshares (NASDAQ:HBAN) - Huntington Bancshares Incorporated operates as the holding company for The Huntington National Bank that provides commercial and consumer banking services. It offers deposit products, including checking accounts, savings accounts, interest bearing and non-interest bearing demand deposits, time deposits, money market deposits, and brokered deposits and negotiable certificate of deposits. The company's loan portfolio comprises home equity loans and lines of credit, first mortgage loans, direct installment loans, small business loans, automobile loans and leases, residential mortgage loans, commercial and industrial loans and leases, and commercial real estate loans.
Valuation and Price Targets – HBAN sells at 11 times expected 2011 earnings of 59 cents and around 9 times 2012's consensus of 68 cents. It has some good insider buying over the last month. Its operating margin is significantly better than two of its key competitors, Fifth Third (FITB) and Keycorp (KEY). It pays a minute dividend of 4 cents a share but that should increase substantially as it recovers from the crisis. Price targets are $8 at both Jefferies and $9 at Credit Suisse.
Disclosure: I am long HBAN.