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

Amkor Technology, Inc. (NASDAQ:AMKR) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.23 and last traded at $16.38, with a volume of 1299664 shares traded. The stock had previously closed at $18.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. B. Riley decreased their price target on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of Amkor Technology in a research note on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price objective on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Morgan Stanley cut 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. Finally, Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and cut their price objective for the stock from $34.00 to $30.00 in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Amkor Technology Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The stock has a market cap of $3.92 billion, a PE ratio of 11.08 and a beta of 1.88. The company’s 50-day moving average price is $21.53 and its two-hundred day moving average price is $25.49.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results 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 return on equity of 8.59% and a net margin of 5.60%. On average, equities 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 was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were issued a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Thursday, March 13th. Amkor Technology’s dividend payout ratio is 23.08%.

Insider Buying and Selling at Amkor Technology

In related news, EVP Kevin Engel sold 5,489 shares of the firm’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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the business’s 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. 31.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Amkor Technology

Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Amkor Technology in the fourth quarter worth $32,479,000. Vanguard Group Inc. grew its position in Amkor Technology by 7.5% during the fourth 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. Wellington Management Group LLP grew its position in shares of Amkor Technology by 522.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock valued at $34,704,000 after acquiring an additional 951,764 shares during the period. Principal Financial Group Inc. increased its position in Amkor Technology by 212.6% in the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock worth $41,647,000 after buying an additional 925,644 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in 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 acquiring an additional 556,761 shares during the period. 42.76% of the stock is owned by 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.