Amkor Technology (NASDAQ:AMKR) Sets New 12-Month Low – Time to Sell?

Amkor Technology, Inc. (NASDAQ:AMKR) hit a new 52-week low during mid-day trading on Thursday . The stock 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.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased 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. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of Amkor Technology in a research report on Tuesday, February 11th. Morgan Stanley reduced their price target on shares of 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. Finally, Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their target price for the stock from $34.00 to $30.00 in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.50.

Amkor Technology Trading Down 5.1 %

The stock has a market capitalization of $4.53 billion, a PE ratio of 12.84 and a beta of 1.88. The stock has a 50-day moving average price of $22.31 and a two-hundred day moving average price of $25.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11.

Amkor Technology (NASDAQ:AMKR) last posted 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 return on equity of 8.59% and a net margin of 5.60%. As a group, equities analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current year.

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 1.80%. Amkor Technology’s payout ratio is 23.08%.

Insider Buying and Selling

In related news, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin Engel sold 5,489 shares of the company’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 owns 1,388 shares in the company, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in shares of Amkor Technology during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp grew 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 acquiring an additional 1,160 shares during the last quarter. Bessemer Group Inc. increased its stake in Amkor Technology by 421.0% in the fourth 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 bought a new stake in shares of Amkor Technology during the fourth quarter worth $43,000. Finally, Larson Financial Group LLC grew its holdings in shares of Amkor Technology by 46.3% in the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 580 shares during the last quarter. 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.