Amkor Technology (NASDAQ:AMKR) Reaches New 12-Month Low – Here’s Why

Amkor Technology, Inc. (NASDAQ:AMKR) shares hit a new 52-week low on Tuesday . The stock traded as low as $19.32 and last traded at $19.48, with a volume of 145817 shares changing hands. The stock had previously closed at $19.82.

Analyst Upgrades and Downgrades

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

Amkor Technology Stock Performance

The firm has a market cap of $4.79 billion, a PE ratio of 13.58 and a beta of 1.88. The company has a 50 day simple moving average of $23.60 and a 200-day simple moving average of $26.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) 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, equities research analysts anticipate that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be paid a $0.0827 dividend. This represents a $0.33 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio is currently 23.08%.

Insiders Place Their Bets

In other news, EVP Kevin Engel sold 5,489 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by insiders.

Institutional Trading of Amkor Technology

A number of institutional investors have recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new position in shares of Amkor Technology during the third quarter valued at approximately $930,000. Valley Wealth Managers Inc. raised its holdings in shares of Amkor Technology by 115.1% during the third quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock valued at $22,359,000 after acquiring an additional 391,002 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amkor Technology by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after acquiring an additional 131,106 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Amkor Technology by 162.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 194,000 shares of the semiconductor company’s stock valued at $5,936,000 after acquiring an additional 120,208 shares in the last quarter. Finally, Covea Finance raised its holdings in shares of Amkor Technology by 47.1% during the fourth quarter. Covea Finance now owns 62,500 shares of the semiconductor company’s stock valued at $1,606,000 after acquiring an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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.