Amkor Technology (NASDAQ:AMKR) Stock Price Down 7% - What's Next?

Key Points

• Amkor Technology's shares dropped by 7% during mid-day trading, falling to a low of $24.05 before closing at $23.33, with trading volume down 77% from the average.
• Analysts maintain a consensus rating of "Hold" for the stock, with price targets ranging from $20.00 to $28.00, reflecting a mixed outlook for investors.
• The company reported a profit of $0.22 EPS, exceeding expectations, and a quarterly revenue of $1.51 billion, marking a 3.4% increase year-over-year.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) shares fell 7% during trading on Wednesday . The company traded as low as $24.05 and last traded at $23.33. 493,776 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,119,741 shares. The stock had previously closed at $25.08.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMKR. DA Davidson decreased their price objective on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. KeyCorp restated a "sector weight" rating on shares of Amkor Technology in a research note on Thursday, April 17th. The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $20.00 target price for the company. Morgan Stanley restated an "equal weight" rating on shares of Amkor Technology in a research note on Tuesday. Finally, Needham & Company LLC raised their target price on shares of Amkor Technology from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Amkor Technology has an average rating of "Hold" and a consensus price target of $26.44.

Amkor Technology Stock Down 3.6%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.83 and a current ratio of 1.89. The stock has a market cap of $5.38 billion, a P/E ratio of 17.68 and a beta of 1.85. The stock's fifty day simple moving average is $20.82 and its 200-day simple moving average is $20.33.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. Amkor Technology had a net margin of 4.80% and a return on equity of 7.23%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. As a group, research analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were issued a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.33 dividend on an annualized basis and a yield of 1.5%. Amkor Technology's payout ratio is currently 26.83%.

Insider Transactions at Amkor Technology

In other news, EVP Mark N. Rogers sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $23.58, for a total value of $353,700.00. Following the completion of the transaction, the executive vice president directly owned 23,862 shares in the company, valued at approximately $562,665.96. The trade was a 38.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.90% of the stock is owned by corporate insiders.

Institutional Trading of Amkor Technology

A number of institutional investors and hedge funds have recently made changes to their positions in AMKR. Caitong International Asset Management Co. Ltd bought a new stake in shares of Amkor Technology during the 1st quarter worth approximately $27,000. UMB Bank n.a. lifted its holdings in shares of Amkor Technology by 677.0% during the 1st quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 1,530 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Amkor Technology by 416.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,602 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 1,292 shares during the period. Allworth Financial LP lifted its holdings in shares of Amkor Technology by 166.3% during the 1st quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 1,357 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Amkor Technology by 421.0% during the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 1,242 shares during the period. 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.