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

Shares of Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $18.30 and last traded at $18.39, with a volume of 961415 shares. The stock had previously closed at $19.36.

Analysts Set New Price Targets

AMKR has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Melius downgraded shares of Amkor Technology from a "buy" rating to a "hold" rating and reduced their price target for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on shares of Amkor Technology from $42.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 11th. Melius Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $34.00 target price on shares of Amkor Technology in a research report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

Amkor Technology Stock Down 1.3 %

The business's 50 day simple moving average is $22.01 and its 200 day simple moving average is $25.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. The company has a market capitalization of $4.46 billion, a PE ratio of 12.63 and a beta of 1.88.

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Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings data 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 return on equity of 8.59% and a net margin of 5.60%. As a group, analysts anticipate 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 will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be given a dividend of $0.0827 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.83%. Amkor Technology's payout ratio is currently 23.08%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 10,020,870 shares in the company, valued at $218,956,009.50. This represents a 7.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,388 shares of the company's stock, valued at approximately $30,105.72. The trade was a 79.82 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.

Institutional Trading of Amkor Technology

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in Amkor Technology in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp raised 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 purchasing an additional 1,160 shares during the last quarter. Bessemer Group Inc. boosted its stake in Amkor Technology by 421.0% during the 4th 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 during the period. Hurley Capital LLC acquired a new position in Amkor Technology in the fourth quarter valued at $43,000. Finally, Quarry LP boosted its stake in shares of Amkor Technology by 421.8% during the third quarter. Quarry LP now owns 3,136 shares of the semiconductor company's stock worth $96,000 after buying an additional 2,535 shares during the period. 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.