Amkor Technology (NASDAQ:AMKR) Sets New 12-Month Low on Insider Selling

Amkor Technology, Inc. (NASDAQ:AMKR) reached a new 52-week low on Thursday following insider selling activity. The stock traded as low as $21.19 and last traded at $21.07, with a volume of 1070950 shares changing hands. The stock had previously closed at $22.14.

Specifically, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the sale, the executive vice president now owns 1,388 shares in the company, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology 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 completion of the sale, the insider now directly owns 10,020,870 shares in the company, valued at $218,956,009.50. This represents a 7.98 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMKR. JPMorgan Chase & Co. decreased their price target on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $34.00 to $30.00 in a research note on Monday, January 6th. B. Riley lowered their target price on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley lowered their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Finally, Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.

Amkor Technology Stock Down 5.2 %

The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 14.73 and a beta of 1.81. The firm’s 50 day moving average is $24.73 and its two-hundred day moving average is $27.57. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS 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%. On average, sell-side analysts predict that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be given a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

Hedge Funds Weigh In On Amkor Technology

A number of large investors have recently bought and sold shares of the stock. Raymond James & Associates acquired a new position in Amkor Technology in the third quarter valued at $5,148,000. Hennion & Walsh Asset Management Inc. purchased a new position in Amkor Technology in the third quarter valued at approximately $202,000. Louisiana State Employees Retirement System grew its stake in Amkor Technology by 7.5% during the third quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the semiconductor company’s stock worth $961,000 after buying an additional 2,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Amkor Technology by 253.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,281 shares of the semiconductor company’s stock worth $559,000 after purchasing an additional 13,111 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new position in Amkor Technology in the third quarter valued at about $209,000. 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.