Amkor Technology, Inc. (NASDAQ:AMKR) Major Shareholder Sells $18,999,995.25 in Stock

Amkor Technology, Inc. (NASDAQ:AMKR) 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 completion of the sale, the insider now directly owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Amkor Technology Stock Up 1.9 %

Shares of NASDAQ AMKR traded up $0.42 during midday trading on Wednesday, reaching $22.14. 1,845,534 shares of the company’s stock traded hands, compared to its average volume of 1,629,625. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 15.48 and a beta of 1.81. The stock’s 50 day simple moving average is $24.80 and its 200-day simple moving average is $27.61. Amkor Technology, Inc. has a one year low of $21.46 and a one year high of $44.86.

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

Amkor Technology Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.0827 per share. 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 1.49%. Amkor Technology’s dividend payout ratio is currently 23.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in Amkor Technology by 24,383.3% in the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after buying an additional 3,772,095 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in Amkor Technology during the 3rd quarter worth approximately $42,610,000. Norges Bank acquired a new stake in Amkor Technology during the 4th quarter valued at approximately $32,479,000. Vanguard Group Inc. boosted its holdings in shares of Amkor Technology by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock valued at $402,414,000 after acquiring an additional 1,092,002 shares during the last quarter. Finally, Wellington Management Group LLP increased 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 worth $34,704,000 after acquiring an additional 951,764 shares during the period. 42.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMKR has been the topic of several research reports. Morgan Stanley dropped their target price on 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. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and cut their target price for the company from $34.00 to $30.00 in a research report on Monday, January 6th. B. Riley decreased 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. JPMorgan Chase & Co. dropped 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 note on Tuesday, February 11th. Finally, KeyCorp cut their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.50.

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.