Amkor Technology (NASDAQ:AMKR) Sees Strong Trading Volume - Here's What Happened

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) saw an uptick in trading volume on Wednesday . 1,813,897 shares were traded during mid-day trading, an increase of 13% from the previous session's volume of 1,605,549 shares.The stock last traded at $18.03 and had previously closed at $18.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMKR. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $42.00 to $30.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC restated a "buy" rating and set a $34.00 price target on shares of Amkor Technology in a research note on Tuesday, February 11th. Melius Research downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Melius cut shares of Amkor Technology from a "buy" rating to a "hold" rating and lowered their target price for the company from $34.00 to $30.00 in a report on Monday, January 6th. Finally, B. Riley reduced their price target on Amkor Technology from $38.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $31.50.

Amkor Technology Trading Up 3.3 %

The stock's 50 day simple moving average is $21.11 and its 200 day simple moving average is $25.24. 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 cap of $3.80 billion, a PE ratio of 10.75 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating 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, sell-side analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were given a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 2.15%. Amkor Technology's payout ratio is currently 23.08%.

Insider Buying and Selling at Amkor Technology

In other news, EVP Kevin Engel sold 5,489 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This trade represents a 79.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm's stock in a transaction on 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 transaction, the insider now directly 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 disclosure for this sale can be found here. 31.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Amkor Technology during the fourth quarter valued at approximately $32,479,000. Vanguard Group Inc. raised its stake in Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company's stock worth $402,414,000 after acquiring an additional 1,092,002 shares during the period. Wellington Management Group LLP boosted its holdings in Amkor Technology by 522.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company's stock worth $34,704,000 after buying an additional 951,764 shares during the period. Principal Financial Group Inc. grew its holdings in 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 valued at $41,647,000 after buying an additional 925,644 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Amkor Technology by 15.8% during the 4th quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company's stock valued at $104,853,000 after purchasing an additional 556,761 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.