Amkor Technology (NASDAQ:AMKR) Shares Down 6.1% - What's Next?

Key Points

• Amkor Technology shares fell 6.1% on Monday, trading as low as $65.23 after closing at $70.35 the prior session, with volume slightly below average.
• Recent earnings were strong: the semiconductor packaging company reported Q1 EPS of $0.33, topping estimates, while revenue of $1.68 billion also beat expectations and rose 27.5% year over year.
• Analyst sentiment remains mixed, with four Buy ratings and seven Hold ratings; MarketBeat reports a consensus Hold and a consensus price target of $62.75, even as several analysts raised targets or upgraded the stock.

Shares of Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) traded down 6.1% during trading on Monday . The company traded as low as $65.23 and last traded at $66.04. 4,081,456 shares traded hands during trading, a decline of 10% from the average session volume of 4,535,210 shares. The stock had previously closed at $70.35.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Melius Research raised shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price objective on the stock in a report on Monday, April 6th. Morgan Stanley boosted their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. UBS Group set a $43.00 price objective on shares of Amkor Technology in a report on Tuesday, February 10th. Zacks Research downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $62.75.

Amkor Technology Stock Down 6.1%

The company has a market cap of $16.37 billion, a PE ratio of 37.74 and a beta of 2.29. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The firm's fifty day simple moving average is $57.75 and its 200-day simple moving average is $48.29.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The company's revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, equities research analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be issued a $0.0835 dividend. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Amkor Technology's dividend payout ratio is 18.86%.

Insider Buying and Selling

In other news, Director Roger Anthony Carolin sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total value of $1,524,800.00. Following the completion of the transaction, the director owned 94,409 shares of the company's stock, valued at $7,197,742.16. The trade was a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gil C. Tily sold 15,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the transaction, the director directly owned 108,806 shares of the company's stock, valued at approximately $8,410,703.80. This represents a 12.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 139,500 shares of company stock valued at $9,421,575. 26.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

Institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in shares of Amkor Technology by 180.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company's stock valued at $28,000 after buying an additional 440 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Amkor Technology by 72.1% in the third quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock valued at $26,000 after buying an additional 391 shares during the last quarter. Root Financial Partners LLC raised its position in shares of Amkor Technology by 38.8% in the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after buying an additional 262 shares during the last quarter. IFP Advisors Inc raised its position in shares of Amkor Technology by 91.2% in the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after buying an additional 447 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of Amkor Technology in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 42.76% of the company's stock.

Amkor Technology Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.