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

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $16.23 and last traded at $16.38, with a volume of 1299664 shares trading hands. The stock had previously closed at $18.63.

Analysts Set New Price Targets

AMKR has been the topic of a number of research reports. Melius Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Amkor Technology from $42.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Morgan Stanley decreased their price target on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. B. Riley dropped their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Melius cut 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. Five investment 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $31.50.

Amkor Technology Stock Performance

The company has a market cap of $3.79 billion, a price-to-earnings ratio of 10.60 and a beta of 1.88. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average price is $21.11 and its 200 day moving average price is $25.24.

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Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly 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%. On average, analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were paid a dividend of $0.0827 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 2.16%. Amkor Technology's dividend payout ratio is presently 23.08%.

Insider Transactions at Amkor Technology

In related news, 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 completion of the sale, the executive vice president now directly owns 1,388 shares of the company's stock, valued at approximately $30,105.72. This represents a 79.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 31.40% of the company's stock.

Institutional Trading of Amkor Technology

Several large investors have recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in shares of Amkor Technology in the third quarter valued at $930,000. Geode Capital Management LLC boosted its position 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 buying an additional 131,106 shares during the last quarter. Covea Finance grew its stake in shares of Amkor Technology by 47.1% during the fourth quarter. Covea Finance now owns 62,500 shares of the semiconductor company's stock valued at $1,606,000 after acquiring an additional 20,000 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Amkor Technology during the fourth quarter worth about $5,666,000. Finally, FMR LLC lifted its stake in shares of Amkor Technology by 35.7% in the third quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company's stock worth $47,595,000 after acquiring an additional 409,241 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.

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.