Amkor Technology (NASDAQ:AMKR) Stock Price Down 7.3% – Time to Sell?

Amkor Technology, Inc. (NASDAQ:AMKR)’s stock price was down 7.3% during trading on Friday . The stock traded as low as $78.83 and last traded at $79.3920. Approximately 978,446 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,854,543 shares. The stock had previously closed at $85.62.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMKR. UBS Group reissued a “neutral” rating and set a $80.00 price target on shares of Amkor Technology in a report on Tuesday, May 26th. Wall Street Zen cut Amkor Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Needham & Company LLC boosted their price objective on Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. B. Riley Financial increased their target price on shares of Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.88.

Amkor Technology Price Performance

The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $74.21 and its 200-day moving average price is $56.65. The stock has a market capitalization of $19.66 billion, a PE ratio of 45.40 and a beta of 2.25.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $0.09 earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis. On average, equities analysts forecast that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were issued a $0.0835 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.4%. Amkor Technology’s payout ratio is 18.86%.

Insider Activity

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction on Monday, May 18th. The shares were sold at an average price of $71.63, for a total transaction of $358,150.00. Following the completion of the transaction, the executive vice president directly owned 38,904 shares of the company’s stock, valued at $2,786,693.52. The trade was a 11.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roger Anthony Carolin sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total transaction of $1,524,800.00. Following the transaction, the director owned 94,409 shares in the company, valued at $7,197,742.16. This trade represents a 17.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 119,000 shares of company stock worth $8,928,600. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in Amkor Technology by 91.2% in the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 447 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Amkor Technology by 180.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 440 shares during the period. Root Financial Partners LLC grew its stake in shares of Amkor Technology by 38.8% during the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 262 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Amkor Technology by 61.8% in the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after buying an additional 854 shares during the period. Finally, FNY Investment Advisers LLC raised its holdings in shares of Amkor Technology by 83.5% in the third quarter. FNY Investment Advisers LLC now owns 1,472 shares of the semiconductor company’s stock worth $41,000 after buying an additional 670 shares during the period. 42.76% of the stock is currently owned by institutional investors.

Amkor Technology Company Profile

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.