Amkor Technology (NASDAQ:AMKR) Shares Down 10.1% – Time to Sell?

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) were down 10.1% during mid-day trading on Thursday . The stock traded as low as $72.84 and last traded at $71.8840. Approximately 2,553,618 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 4,885,829 shares. The stock had previously closed at $79.99.

Wall Street Analyst Weigh In

AMKR has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. UBS Group reiterated a “neutral” rating and set a $80.00 target price on shares of Amkor Technology in a research report on Tuesday, May 26th. Melius Research raised Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, April 6th. Needham & Company LLC raised their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen downgraded Amkor Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 21st. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.88.

Amkor Technology Stock Performance

The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of 39.80 and a beta of 2.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The firm’s 50-day simple moving average is $75.51 and its 200 day simple moving average is $57.92.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue was up 27.5% compared to the same quarter last year. Equities analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were paid a $0.0835 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.33 annualized dividend and a yield of 0.5%. Amkor Technology’s dividend payout ratio (DPR) is 18.86%.

Insider Transactions at Amkor Technology

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $71.63, for a total value of $358,150.00. Following the transaction, the executive vice president owned 38,904 shares in the company, valued at $2,786,693.52. The trade was a 11.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $74.28, for a total value of $3,714,000.00. Following the transaction, the director directly owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 119,000 shares of company stock valued at $8,928,600. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its stake in shares of Amkor Technology by 91.2% during the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after buying an additional 447 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Amkor Technology by 180.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 440 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 262 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Amkor Technology by 61.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 854 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its holdings in shares of Amkor Technology by 83.5% during the 3rd quarter. FNY Investment Advisers LLC now owns 1,472 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 670 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.