Amkor Technology (NASDAQ:AMKR) Reaches New 1-Year Low Following Insider Selling

Amkor Technology, Inc. (NASDAQ:AMKR)’s stock price hit a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. 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 business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. The trade was a 79.82 % decrease in their position. The transaction 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 that occurred on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMKR shares. JPMorgan Chase & Co. reduced their price objective on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Morgan Stanley reduced their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. B. Riley reduced their price objective 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. Finally, Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.50.

Amkor Technology Price Performance

The firm’s fifty day moving average price is $24.56 and its 200 day moving average price is $27.46. The firm has a market capitalization of $5.21 billion, a PE ratio of 14.76 and a beta of 1.81. The company has a current ratio of 2.11, a quick ratio of 1.90 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 EPS for the quarter, beating 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%. As a group, equities analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current year.

Amkor Technology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be issued a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is currently 23.08%.

Institutional Trading of Amkor Technology

Several large investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Amkor Technology during the fourth quarter worth $8,344,000. Forum Financial Management LP boosted its holdings in Amkor Technology by 23.4% during the fourth quarter. Forum Financial Management LP now owns 8,637 shares of the semiconductor company’s stock worth $222,000 after buying an additional 1,639 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Amkor Technology during the fourth quarter worth $1,603,000. CSS LLC IL boosted its holdings in Amkor Technology by 9.4% during the fourth quarter. CSS LLC IL now owns 15,340 shares of the semiconductor company’s stock worth $394,000 after buying an additional 1,320 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Amkor Technology by 9.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 307,036 shares of the semiconductor company’s stock worth $7,888,000 after buying an additional 26,146 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.