Amkor Technology (NASDAQ:AMKR) Reaches New 1-Year Low After Insider Selling

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report)'s share price hit 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. The stock had previously closed at $22.14.

Specifically, EVP Kevin Engel sold 5,489 shares of Amkor Technology stock in a transaction dated 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 directly owns 1,388 shares of the company's stock, valued at $30,105.72. The trade was a 79.82 % decrease in their ownership of the stock. 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 stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 10,020,870 shares of the company's stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of research firms recently commented on AMKR. Needham & Company LLC reiterated a "buy" rating and issued a $34.00 price objective on shares of Amkor Technology 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 on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their price objective on Amkor Technology from $42.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, February 11th. Melius Research cut shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Finally, B. Riley dropped their price target 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. Six 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, Amkor Technology has a consensus rating of "Hold" and a consensus target price of $31.50.

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Amkor Technology Price Performance

The company's 50-day moving average price is $24.44 and its 200-day moving average price is $27.30. 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 firm has a market cap of $5.00 billion, a price-to-earnings ratio of 14.17 and a beta of 1.81.

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 (EPS) 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, equities research analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.0827 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 1.63%. Amkor Technology's dividend payout ratio (DPR) is 23.08%.

Hedge Funds Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its holdings in 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 valued at $961,000 after acquiring an additional 2,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Amkor Technology by 253.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,281 shares of the semiconductor company's stock valued at $559,000 after purchasing an additional 13,111 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company's stock worth $41,647,000 after purchasing an additional 925,644 shares during the last quarter. General American Investors Co. Inc. acquired a new position in shares of Amkor Technology during the third quarter worth $3,060,000. Finally, Summit Global Investments increased its holdings in Amkor Technology by 27.7% in the third quarter. Summit Global Investments now owns 47,353 shares of the semiconductor company's stock valued at $1,449,000 after buying an additional 10,275 shares during the last quarter. Hedge funds and other institutional investors 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.