Amkor Technology (NASDAQ:AMKR) Sets New 12-Month Low – Time to Sell?

Amkor Technology, Inc. (NASDAQ:AMKR) hit a new 52-week low on Monday . The company traded as low as $23.33 and last traded at $24.08, with a volume of 105549 shares trading hands. The stock had previously closed at $24.61.

Wall Street Analyst Weigh In

AMKR has been the topic of several research reports. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lowered their target price on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.50.

Amkor Technology Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The company’s 50 day simple moving average is $25.98 and its 200 day simple moving average is $28.98. The company has a market capitalization of $5.92 billion, a PE ratio of 16.20 and a beta of 1.81.

Amkor Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were paid a dividend of $0.0827 per share. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a yield of 1.38%. The ex-dividend date was Wednesday, December 4th. Amkor Technology’s dividend payout ratio (DPR) is currently 22.30%.

Hedge Funds Weigh In On Amkor Technology

Several hedge funds have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in Amkor Technology during the 3rd quarter worth approximately $930,000. Valley Wealth Managers Inc. raised its holdings in shares of Amkor Technology by 115.1% in the third quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock valued at $22,359,000 after buying an additional 391,002 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Amkor Technology by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock worth $64,101,000 after buying an additional 131,106 shares during the last quarter. Principal Financial Group Inc. raised its stake in Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after acquiring an additional 925,644 shares during the last quarter. Finally, General American Investors Co. Inc. purchased a new position in shares of Amkor Technology in the 3rd quarter valued at approximately $3,060,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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.