Amkor Technology (NASDAQ:AMKR) Reaches New 1-Year Low Following 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 stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the transaction, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the transaction, the insider now directly owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. The trade was a 7.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their price objective for the company from $34.00 to $30.00 in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of Amkor Technology in a report on Tuesday, February 11th. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, Morgan Stanley reduced their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Amkor Technology presently has a consensus rating of “Hold” and a consensus price target of $31.50.

Amkor Technology Trading Up 0.6 %

The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 14.76 and a beta of 1.81. The company’s 50-day moving average is $24.56 and its 200-day moving average is $27.46. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (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%. Research analysts anticipate that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is presently 23.08%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMKR. Pacer Advisors Inc. boosted its stake in Amkor Technology by 24,383.3% during the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after buying an additional 3,772,095 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Amkor Technology in the third quarter valued at approximately $42,610,000. Norges Bank purchased a new position in shares of Amkor Technology in the fourth quarter valued at approximately $32,479,000. Vanguard Group Inc. boosted its stake in shares of Amkor Technology by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock valued at $402,414,000 after purchasing an additional 1,092,002 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Amkor Technology by 522.0% in the third quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock valued at $34,704,000 after purchasing an additional 951,764 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

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.