Amkor Technology (NASDAQ:AMKR) Shares Down 7.3% – Should You Sell?

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) dropped 7.3% during mid-day trading on Friday . The stock traded as low as $78.83 and last traded at $79.3920. 978,446 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 4,854,543 shares. The stock had previously closed at $85.62.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMKR. Wall Street Zen cut Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. UBS Group reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Amkor Technology in a research note on Tuesday, May 26th. B. Riley Financial boosted their price target on Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Amkor Technology in a research note on Monday, April 20th. Finally, Morgan Stanley raised their price objective on Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Amkor Technology has an average rating of “Hold” and a consensus target price of $69.88.

Amkor Technology Stock Performance

The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $74.59 and its 200 day simple moving average is $56.80. The company has a market cap of $19.51 billion, a price-to-earnings ratio of 44.98 and a beta of 2.25.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.10. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. As a group, analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were given a dividend of $0.0835 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a yield of 0.4%. Amkor Technology’s dividend payout ratio (DPR) is presently 18.86%.

Insider Activity at Amkor Technology

In other Amkor Technology news, Director Winston J. Churchill sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.45, for a total value of $535,150.00. Following the completion of the sale, the director directly owned 18,888 shares in the company, valued at $1,443,987.60. This represents a 27.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gil C. Tily sold 15,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total value of $1,159,500.00. Following the completion of the sale, the director directly owned 108,806 shares of the company’s stock, valued at $8,410,703.80. This trade represents a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,000 shares of company stock valued at $8,928,600 in the last three months. Company insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Amkor Technology by 100.6% in the 1st quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock valued at $349,000 after purchasing an additional 3,454,012 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Amkor Technology by 61.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 854 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Amkor Technology by 913.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 6,768 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Amkor Technology by 73.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company’s stock valued at $9,476,000 after buying an additional 222,107 shares during the period. Finally, Caxton Associates LLP acquired a new position in Amkor Technology in the first quarter valued at approximately $271,000. 42.76% of the stock is currently owned by institutional investors and hedge funds.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.