Amkor Technology (NASDAQ:AMKR) Shares Gap Down – Here’s What Happened

Amkor Technology, Inc. (NASDAQ:AMKR)’s share price gapped down prior to trading 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 traded.

Analyst Ratings Changes

AMKR has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. KeyCorp reiterated a “sector weight” rating on shares of Amkor Technology in a research note on Thursday, April 17th. B. Riley downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Melius cut 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 report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.50.

Amkor Technology Stock Performance

The firm has a market capitalization of $3.94 billion, a PE ratio of 11.16 and a beta of 1.88. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $18.99 and its two-hundred day simple moving average is $23.92.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data 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 net margin of 5.60% and a return on equity of 8.59%. Research analysts expect 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 was paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th were given 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 dividend payout ratio (DPR) is presently 23.08%.

Insiders Place Their Bets

In related news, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This represents a 79.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the sale, the insider now directly owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This represents a 7.98 % 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 Trading of Amkor Technology

Several institutional investors have recently made changes to their positions in the business. Covea Finance raised its position in shares of Amkor Technology by 47.1% during the fourth quarter. Covea Finance now owns 62,500 shares of the semiconductor company’s stock valued at $1,606,000 after buying an additional 20,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in Amkor Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company’s stock valued at $54,209,000 after acquiring an additional 15,211 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Amkor Technology in the 4th quarter worth $5,666,000. Blue Trust Inc. boosted its holdings in shares of Amkor Technology by 36.9% during the 4th quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 922 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Amkor Technology by 212.6% during the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after purchasing an additional 925,644 shares in 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.