Amkor Technology (NASDAQ:AMKR) Sets New 52-Week Low – Here’s Why

Amkor Technology, Inc. (NASDAQ:AMKR) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $18.30 and last traded at $18.39, with a volume of 961415 shares trading hands. The stock had previously closed at $19.36.

Analysts Set New Price Targets

AMKR has been the topic of several research reports. Melius Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. B. Riley dropped their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. 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. JPMorgan Chase & Co. dropped their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley cut their price objective 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Amkor Technology Trading Down 5.1 %

The company has a 50 day moving average price of $22.31 and a two-hundred day moving average price of $25.88. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 12.84 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.0827 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.80%. Amkor Technology’s payout ratio is currently 23.08%.

Insider Buying and Selling

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was 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 directly owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This represents 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.

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 valued at $402,414,000 after buying an additional 1,092,002 shares during the period. First Trust Advisors LP lifted its stake in shares of Amkor Technology by 7.9% in 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 purchasing an additional 350,809 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Amkor Technology by 15.8% during the 4th quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock worth $104,853,000 after purchasing an additional 556,761 shares during the period. State Street Corp increased its position in shares of Amkor Technology by 5.6% during the 3rd quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock worth $102,688,000 after purchasing an additional 176,528 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in 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 institutional investors and hedge funds.

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.