Amkor Technology (NASDAQ:AMKR) Sees Unusually-High Trading Volume – Time to Buy?

Amkor Technology, Inc. (NASDAQ:AMKR) shares saw unusually-high trading volume on Wednesday . Approximately 1,813,897 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 1,605,549 shares.The stock last traded at $18.03 and had previously closed at $18.11.

Analysts Set New Price Targets

Several equities analysts recently commented on AMKR shares. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Melius Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. B. Riley dropped their target price on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and cut their price target for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Amkor Technology Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The stock’s 50 day moving average price is $21.68 and its 200 day moving average price is $25.53. The company has a market capitalization of $4.53 billion, a P/E ratio of 12.84 and a beta of 1.88.

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

Amkor Technology Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be paid a $0.0827 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.33 annualized dividend and a dividend yield of 1.80%. Amkor Technology’s dividend payout ratio is currently 23.08%.

Insider Activity at Amkor Technology

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the sale, the insider now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the transaction, the executive vice president now directly owns 1,388 shares in the company, valued at $30,105.72. The trade was a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently made changes to their positions in AMKR. The Manufacturers Life Insurance Company boosted its stake in Amkor Technology by 5.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 105,521 shares of the semiconductor company’s stock valued at $3,229,000 after purchasing an additional 5,307 shares during the last quarter. FMR LLC boosted its position in shares of Amkor Technology by 35.7% during the third quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company’s stock valued at $47,595,000 after buying an additional 409,241 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Amkor Technology by 510.1% during the third quarter. BNP Paribas Financial Markets now owns 118,579 shares of the semiconductor company’s stock worth $3,629,000 after buying an additional 99,143 shares in the last quarter. MetLife Investment Management LLC raised its position in Amkor Technology by 7.2% in the 3rd quarter. MetLife Investment Management LLC now owns 58,567 shares of the semiconductor company’s stock valued at $1,792,000 after buying an additional 3,956 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amkor Technology by 5.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,890 shares of the semiconductor company’s stock valued at $8,595,000 after acquiring an additional 14,389 shares in the last quarter. 42.76% of the stock is owned by institutional investors.

About Amkor Technology

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.