Amkor Technology (NASDAQ:AMKR) Hits New 1-Year Low - Here's What Happened

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $19.32 and last traded at $19.48, with a volume of 145817 shares trading hands. The stock had previously closed at $19.82.

Analyst Ratings Changes

A number of analysts have commented on the company. Melius Research downgraded Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. B. Riley cut 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 report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley reduced their target price on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reissued a "buy" rating and set a $34.00 price target on shares of Amkor Technology in a research report 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, the company has an average rating of "Hold" and an average target price of $31.50.

Amkor Technology Price Performance

The company's 50-day moving average is $23.85 and its 200-day moving average is $26.87. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 13.45 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90.

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

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be paid a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology's dividend payout ratio is currently 23.08%.

Insider Activity at Amkor Technology

In other news, EVP Kevin Engel sold 5,489 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the sale, the executive vice president now owns 1,388 shares of the company's stock, valued at $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction on Monday, February 24th. The shares were 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 $218,956,009.50. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amkor Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in Amkor Technology during the 4th quarter valued at $27,000. Jones Financial Companies Lllp boosted its position in Amkor Technology by 353.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company's stock valued at $38,000 after buying an additional 1,160 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Amkor Technology during the third quarter valued at about $39,000. Bessemer Group Inc. increased its position in shares of Amkor Technology by 421.0% during the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 1,242 shares during the last quarter. Finally, Hurley Capital LLC acquired a new position in shares of Amkor Technology in the fourth quarter worth about $43,000. 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.

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