Amkor Technology (NASDAQ:AMKR) Sets New 12-Month Low - Here's What Happened

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $16.23 and last traded at $16.38, with a volume of 1299664 shares traded. The stock had previously closed at $18.63.

Analysts Set New Price Targets

Several brokerages have recently commented on AMKR. Morgan Stanley decreased their target price on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report 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 report on Tuesday, February 11th. Melius downgraded Amkor Technology from a "buy" rating to a "hold" rating and dropped their price target for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Melius Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Finally, B. Riley decreased their price target on Amkor Technology from $38.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Five 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 stock has an average rating of "Moderate Buy" and a consensus price target of $31.50.

Amkor Technology Stock Performance

The firm has a market cap of $3.69 billion, a P/E ratio of 10.43 and a beta of 1.88. 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 firm has a fifty day moving average of $20.57 and a 200-day moving average of $24.94.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 EPS 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%. Research analysts predict that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th were paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, March 13th. Amkor Technology's payout ratio is presently 23.08%.

Insider Activity at Amkor Technology

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

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Amkor Technology during the 4th quarter valued at $27,000. Jones Financial Companies Lllp boosted its stake in shares of Amkor Technology by 353.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 1,160 shares in the last quarter. Bessemer Group Inc. increased its position in 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 period. Hurley Capital LLC bought a new position in Amkor Technology during the 4th quarter worth $43,000. Finally, Versant Capital Management Inc boosted its holdings in Amkor Technology by 467.7% in the first quarter. Versant Capital Management Inc now owns 3,009 shares of the semiconductor company's stock valued at $54,000 after acquiring an additional 2,479 shares during the last quarter. Institutional investors and hedge funds 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.