Amkor Technology (NASDAQ:AMKR) Reaches New 12-Month Low – Here’s Why

Amkor Technology, Inc. (NASDAQ:AMKR) shares hit a new 52-week low on Tuesday . The stock traded as low as $19.32 and last traded at $19.48, with a volume of 145817 shares trading hands. The stock had previously closed at $19.82.

Wall Street Analyst Weigh In

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

Amkor Technology Trading Up 1.0 %

The business’s 50 day moving average price is $23.60 and its two-hundred day moving average price is $26.72. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 13.58 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be issued a $0.0827 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a yield of 1.70%. Amkor Technology’s dividend payout ratio (DPR) is presently 23.08%.

Insider Activity at Amkor Technology

In related news, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This trade represents a 79.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Amkor Technology in the 4th quarter worth about $8,344,000. Forum Financial Management LP boosted its holdings in shares of Amkor Technology by 23.4% in the 4th quarter. Forum Financial Management LP now owns 8,637 shares of the semiconductor company’s stock worth $222,000 after buying an additional 1,639 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Amkor Technology in the 4th quarter worth about $1,603,000. CSS LLC IL boosted its holdings in shares of Amkor Technology by 9.4% in the 4th quarter. CSS LLC IL now owns 15,340 shares of the semiconductor company’s stock worth $394,000 after buying an additional 1,320 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amkor Technology by 9.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 307,036 shares of the semiconductor company’s stock valued at $7,888,000 after acquiring an additional 26,146 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.