Amkor Technology (NASDAQ:AMKR) Shares Gap Down – What’s Next?

Amkor Technology, Inc. (NASDAQ:AMKR) gapped down before the market opened on Monday . The stock had previously closed at $15.97, but opened at $15.24. Amkor Technology shares last traded at $15.48, with a volume of 124,648 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AMKR shares. KeyCorp reaffirmed a “sector weight” rating on shares of Amkor Technology in a research note on Thursday, April 17th. Morgan Stanley lowered their price target on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. B. Riley cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and lowered their price objective for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut 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. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.50.

Amkor Technology Stock Performance

The firm has a market capitalization of $3.94 billion, a P/E ratio of 11.16 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. The firm has a 50-day moving average price of $18.99 and a two-hundred day moving average price of $23.92.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data 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, analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were issued a dividend of $0.0827 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 2.07%. Amkor Technology’s payout ratio is currently 23.08%.

Insiders Place Their Bets

In other news, major shareholder Agnes C. Kim sold 869,565 shares of the business’s 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 transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the sale, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.90% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in shares of Amkor Technology in the fourth quarter valued at about $27,000. Jones Financial Companies Lllp raised its stake in shares of Amkor Technology by 353.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after buying an additional 1,160 shares during the period. Bessemer Group Inc. lifted its holdings in Amkor Technology by 421.0% during the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 1,242 shares in the last quarter. Hurley Capital LLC purchased a new position in Amkor Technology in the 4th quarter valued at about $43,000. Finally, UMB Bank n.a. boosted its stake in shares of Amkor Technology by 677.0% in the first quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 1,530 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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.