Amkor Technology (NASDAQ:AMKR) Sets New 12-Month Low After Analyst Downgrade

Shares of Amkor Technology, Inc. (NASDAQ:AMKRGet Free Report) reached a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $30.00 to $25.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Amkor Technology traded as low as $16.54 and last traded at $17.45, with a volume of 2863035 shares trading hands. The stock had previously closed at $17.02.

A number of other research firms also recently commented on AMKR. B. Riley downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, April 21st. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Morgan Stanley reduced their price target on shares of Amkor Technology from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday. KeyCorp reiterated a “sector weight” rating on shares of Amkor Technology in a research report on Thursday, April 17th. Finally, DA Davidson reduced their target price on Amkor Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.00.

Check Out Our Latest Analysis on AMKR

Insider Activity

In related news, major shareholder Agnes C. Kim sold 869,565 shares of the 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 transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This represents a 7.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin Engel sold 5,489 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the transaction, the executive vice president now directly owns 1,388 shares in the company, 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. Corporate insiders own 26.90% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Amkor Technology in the 4th quarter valued at about $27,000. UMB Bank n.a. increased its holdings in shares of Amkor Technology by 677.0% in the 1st quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 1,530 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of 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. Allworth Financial LP increased its holdings in shares of Amkor Technology by 166.3% in the 1st quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 1,357 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Amkor Technology by 421.0% in the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 1,242 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Trading Up 2.5 %

The firm has a market cap of $4.31 billion, a PE ratio of 12.20 and a beta of 1.88. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average price of $18.33 and a 200 day moving average price of $23.42.

Amkor Technology (NASDAQ:AMKRGet Free Report) last released its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. Analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th were paid a dividend of $0.0827 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a yield of 1.90%. Amkor Technology’s dividend payout ratio is presently 23.08%.

About Amkor Technology

(Get Free Report)

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.

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