Amkor Technology's stock plummeted 5.27% during Tuesday's intraday trading session, reversing earlier gains. The semiconductor packaging and testing services provider experienced significant selling pressure after opening higher.

The stock had rallied in premarket trading following the company's release of better-than-expected fourth-quarter results and an optimistic first-quarter revenue forecast. However, the early gains were short-lived as investors began taking profits, leading to the sharp intraday decline.

Several Wall Street analysts raised their price targets on Amkor Technology following the earnings report, including JP Morgan increasing its target to $65 from $32 and Melius Research raising its target to $60 from $45. The average analyst rating remains Hold with a mean price target of $55.69, according to FactSet data.