Amkor Technology (NASDAQ:AMKR) Hits New 52-Week Low - Here's What Happened

Shares of Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $19.93 and last traded at $20.40, with a volume of 3460078 shares traded. The stock had previously closed at $20.27.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Melius Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a "buy" rating and set a $34.00 price objective on shares of Amkor Technology in a report on Tuesday, February 11th. Morgan Stanley reduced their price objective on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Melius lowered Amkor Technology from a "buy" rating to a "hold" rating and dropped their target price for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price target 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. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $31.50.

Amkor Technology Price Performance

The stock has a 50 day moving average of $24.08 and a two-hundred day moving average of $27.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The firm has a market capitalization of $5.12 billion, a P/E ratio of 14.50 and a beta of 1.88.

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Amkor Technology (NASDAQ:AMKR - Get Free Report) last released 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 predict that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 1.59%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology's dividend payout ratio (DPR) is currently 23.08%.

Insider Transactions at Amkor Technology

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the company'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 value of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares of the company's stock, valued at $218,956,009.50. This represents a 7.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% 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 company. SBI Securities Co. Ltd. bought a new position in shares of Amkor Technology in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp increased its holdings in Amkor Technology by 353.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 1,160 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Amkor Technology in the 3rd quarter valued at $39,000. Bessemer Group Inc. boosted its stake in Amkor Technology by 421.0% in the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Hurley Capital LLC bought a new stake in shares of Amkor Technology during the fourth quarter worth $43,000. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.