Amkor Technology (NASDAQ:AMKR) Reaches New 12-Month Low After Insider Selling

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) hit a new 52-week low on Thursday after an insider sold shares in the company. The stock traded as low as $21.19 and last traded at $21.07, with a volume of 1070950 shares trading hands. The stock had previously closed at $22.14.

Specifically, EVP Kevin Engel sold 5,489 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the sale, the executive vice president now directly owns 1,388 shares in the company, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the transaction, the insider now directly owns 10,020,870 shares in the company, valued at $218,956,009.50. The trade was a 7.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several research firms recently weighed in on AMKR. JPMorgan Chase & Co. lowered their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley decreased their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. B. Riley dropped their price objective on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of Amkor Technology in a report on Tuesday, February 11th. Finally, Melius Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Amkor Technology has an average rating of “Hold” and a consensus target price of $31.50.

Amkor Technology Price Performance

The company has a market cap of $5.18 billion, a PE ratio of 14.73 and a beta of 1.81. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $24.73 and a 200-day simple moving average of $27.57.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. As a group, research analysts predict that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be issued a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

Hedge Funds Weigh In On Amkor Technology

Institutional investors have recently made changes to their positions in the company. Raymond James & Associates purchased a new stake in shares of Amkor Technology during the 3rd quarter worth about $5,148,000. Hennion & Walsh Asset Management Inc. purchased a new position in Amkor Technology during the third quarter worth approximately $202,000. Louisiana State Employees Retirement System grew its holdings in Amkor Technology by 7.5% in the third quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the semiconductor company’s stock valued at $961,000 after purchasing an additional 2,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Amkor Technology by 253.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,281 shares of the semiconductor company’s stock worth $559,000 after buying an additional 13,111 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Amkor Technology during the 3rd quarter valued at approximately $209,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.