Amkor Technology (NASDAQ:AMKR) Reaches New 52-Week Low – Here’s What Happened

Amkor Technology, Inc. (NASDAQ:AMKR) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $18.30 and last traded at $18.39, with a volume of 961415 shares changing hands. The stock had previously closed at $19.36.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMKR. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price objective on shares of Amkor Technology in a report on Tuesday, February 11th. B. Riley reduced their target price on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Melius downgraded Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Finally, 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 note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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 fifty day moving average of $22.01 and a 200-day moving average of $25.76. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.80 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. On average, equities research analysts predict that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be given a $0.0827 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a yield of 1.81%. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

Insider Activity

In other news, EVP Kevin Engel sold 5,489 shares of Amkor Technology stock in a transaction on Tuesday, February 25th. The stock was 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 of the company’s stock, valued at $30,105.72. The trade was a 79.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction dated 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. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of large investors have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in shares of Amkor Technology in the third quarter valued at $930,000. Geode Capital Management LLC lifted its holdings in Amkor Technology by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after purchasing an additional 131,106 shares in the last quarter. Covea Finance boosted its stake in shares of Amkor Technology by 47.1% during the 4th quarter. Covea Finance now owns 62,500 shares of the semiconductor company’s stock worth $1,606,000 after purchasing an additional 20,000 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Amkor Technology during the third quarter worth about $1,126,000. Finally, Petrus Trust Company LTA acquired a new position in shares of Amkor Technology in the third quarter valued at approximately $606,000. Institutional investors and hedge funds 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.