Amkor Technology (NASDAQ:AMKR) Sets New 1-Year Low on Insider Selling

Amkor Technology, Inc. (NASDAQ:AMKR)’s share price reached a new 52-week low on Thursday following insider selling activity. The company traded as low as $21.19 and last traded at $21.07, with a volume of 1070950 shares trading hands. The stock had previously closed at $22.14.

Specifically, 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 transaction of $119,056.41. Following the transaction, the executive vice president now owns 1,388 shares in the company, valued at approximately $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction 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 in the company, valued at approximately $218,956,009.50. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

AMKR has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price 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 Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their target price for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 target price on shares of Amkor Technology in a research note on Tuesday, February 11th. Finally, B. Riley reduced their target price 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology presently has a consensus rating of “Hold” and a consensus price target of $31.50.

Amkor Technology Price Performance

The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.21 billion, a P/E ratio of 14.81 and a beta of 1.81. The business’s 50-day simple moving average is $24.64 and its two-hundred day simple moving average is $27.53.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology’s payout ratio is 23.08%.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently modified their holdings of AMKR. Raymond James & Associates purchased a new stake in shares of Amkor Technology in the third quarter worth about $5,148,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Amkor Technology in the third quarter worth about $202,000. Louisiana State Employees Retirement System lifted its holdings in shares of Amkor Technology by 7.5% in the third quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the semiconductor company’s stock worth $961,000 after buying an additional 2,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Amkor Technology by 253.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,281 shares of the semiconductor company’s stock worth $559,000 after buying an additional 13,111 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Amkor Technology in the third quarter worth about $209,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.