Amkor Technology (NASDAQ:AMKR) Sets New 52-Week Low – Time to Sell?

Amkor Technology, Inc. (NASDAQ:AMKR) shares reached a new 52-week low during trading on Thursday . The company traded as low as $16.23 and last traded at $16.38, with a volume of 1299664 shares trading hands. The stock had previously closed at $18.63.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley decreased their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their target price for the stock from $34.00 to $30.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of Amkor Technology in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amkor Technology presently has an average rating of “Moderate Buy” and an average price target 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 has a market cap of $3.68 billion, a PE ratio of 10.41 and a beta of 1.88. The firm has a fifty day moving average price of $21.11 and a 200 day moving average price of $25.31.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly 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 net margin of 5.60% and a return on equity of 8.59%. Research analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were issued a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

Insiders Place Their Bets

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction on Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the sale, the insider now owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the transaction, the executive vice president now 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. Insiders own 31.40% of the company’s stock.

Institutional Trading of Amkor Technology

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock worth $402,414,000 after buying an additional 1,092,002 shares during the last quarter. First Trust Advisors LP boosted its holdings in Amkor Technology by 7.9% during the 4th quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company’s stock valued at $122,767,000 after acquiring an additional 350,809 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Amkor Technology by 15.8% in the fourth quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock valued at $104,853,000 after purchasing an additional 556,761 shares in the last quarter. State Street Corp raised its stake in shares of Amkor Technology by 5.6% in the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock valued at $102,688,000 after acquiring an additional 176,528 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Amkor Technology by 24.4% in the 4th quarter. American Century Companies Inc. now owns 2,709,002 shares of the semiconductor company’s stock valued at $69,594,000 after buying an additional 530,771 shares during the period. 42.76% of the stock is currently owned by hedge funds and other 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.