Amkor Technology (NASDAQ:AMKR) Shares Gap Down - Here's Why

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $15.97, but opened at $15.24. Amkor Technology shares last traded at $15.48, with a volume of 124,648 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMKR shares. Melius Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $42.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. B. Riley lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday. Needham & Company LLC reissued a "buy" rating and issued a $34.00 target price on shares of Amkor Technology in a research note on Tuesday, February 11th. Finally, Morgan Stanley lowered their target price on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $31.50.

Amkor Technology Price Performance

The business has a 50-day simple moving average of $18.86 and a 200 day simple moving average of $23.87. 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 $4.25 billion, a P/E ratio of 12.02 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its 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 return on equity of 8.59% and a net margin of 5.60%. On average, analysts anticipate that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were given a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, March 13th. Amkor Technology's dividend payout ratio (DPR) is 23.08%.

Insiders Place Their Bets

In other news, EVP Kevin Engel sold 5,489 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 in the company, valued at approximately $30,105.72. This represents a 79.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 26.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AMKR. Covea Finance lifted its holdings in shares of Amkor Technology by 47.1% in the 4th quarter. Covea Finance now owns 62,500 shares of the semiconductor company's stock valued at $1,606,000 after buying an additional 20,000 shares during the period. Geode Capital Management LLC raised its position in shares of Amkor Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company's stock valued at $54,209,000 after buying an additional 15,211 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Amkor Technology during the fourth quarter worth about $5,666,000. Blue Trust Inc. boosted its position in Amkor Technology by 36.9% during the fourth quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company's stock worth $88,000 after acquiring an additional 922 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Amkor Technology by 212.6% in 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 acquiring an additional 925,644 shares during the last quarter. 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.