Amkor Technology (NASDAQ:AMKR) Shares Down 9.3% – Here’s Why

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) fell 9.3% during trading on Monday . The company traded as low as $59.85 and last traded at $58.8870. Approximately 1,963,950 shares were traded during trading, a decline of 59% from the average daily volume of 4,844,375 shares. The stock had previously closed at $64.96.

Analyst Ratings Changes

Several equities analysts have weighed in on AMKR shares. Morgan Stanley boosted their target price on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amkor Technology in a research report on Friday, July 17th. The Goldman Sachs Group lifted their price target on shares of Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. UBS Group upgraded Amkor Technology from a “neutral” rating to a “buy” rating and upped their price objective for the company from $80.00 to $90.00 in a report on Friday. Finally, B. Riley Financial lowered their price objective on Amkor Technology from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.25.

Amkor Technology Trading Down 8.3%

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The company has a market cap of $14.77 billion, a PE ratio of 34.09 and a beta of 2.20. The company’s 50 day simple moving average is $73.36 and its two-hundred day simple moving average is $60.75.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.23 by $0.10. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. As a group, sell-side analysts anticipate that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were issued a $0.0835 dividend. This represents a $0.33 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, June 3rd. Amkor Technology’s dividend payout ratio (DPR) is 18.86%.

Insider Buying and Selling

In other Amkor Technology news, Director Gil C. Tily sold 15,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the transaction, the director directly owned 108,806 shares in the company, valued at $8,410,703.80. This represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Winston J. Churchill sold 5,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $78.20, for a total value of $391,000.00. Following the transaction, the director owned 28,781 shares of the company’s stock, valued at approximately $2,250,674.20. This represents a 14.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,000 shares of company stock valued at $8,631,450 over the last quarter. 26.40% of the stock is owned by corporate insiders.

Institutional Trading of Amkor Technology

A number of institutional investors and hedge funds have recently bought and sold shares of AMKR. Royal Bank of Canada boosted its stake in shares of Amkor Technology by 100.6% in the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock valued at $349,000 after purchasing an additional 3,454,012 shares during the period. Advisors Asset Management Inc. increased its stake in Amkor Technology by 61.8% during the 1st 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Amkor Technology by 913.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company’s stock worth $136,000 after buying an additional 6,768 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Amkor Technology by 73.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company’s stock worth $9,476,000 after buying an additional 222,107 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in Amkor Technology in the 1st quarter valued at approximately $271,000. 42.76% of the stock is currently owned by hedge funds and other 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.