Amkor Technology (NASDAQ:AMKR) Sets New 1-Year Low on Insider Selling

Amkor Technology, Inc. (NASDAQ:AMKR) shares reached a new 52-week low during trading on Thursday after an insider sold shares in the company. The stock traded as low as $21.19 and last traded at $21.07, with a volume of 1070950 shares changing hands. The stock had previously closed at $22.14.

Specifically, 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 value of $119,056.41. Following the sale, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s 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 in the company, valued at $218,956,009.50. This represents a 7.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

AMKR has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of Amkor Technology in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lowered their target price 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. B. Riley decreased their price target 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. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their price target on shares of 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.50.

Amkor Technology Price Performance

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 stock has a market cap of $5.21 billion, a P/E ratio of 14.81 and a beta of 1.81. The firm’s fifty day moving average price is $24.64 and its 200-day moving average price is $27.53.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. Analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current year.

Amkor Technology Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be given a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

Institutional Investors Weigh In On Amkor Technology

A number of large investors have recently made changes to their positions in AMKR. Neo Ivy Capital Management bought a new position in shares of Amkor Technology during the 3rd quarter valued at approximately $930,000. Valley Wealth Managers Inc. raised its holdings in shares of Amkor Technology by 115.1% during the 3rd quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock worth $22,359,000 after acquiring an additional 391,002 shares in the last quarter. Geode Capital Management LLC raised its holdings in Amkor Technology by 6.7% during 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 period. Principal Financial Group Inc. grew its position 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. Finally, General American Investors Co. Inc. purchased a new position in shares of Amkor Technology during the third quarter valued at $3,060,000. 42.76% of the stock is currently owned by institutional investors.

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.