Amkor Technology (NASDAQ:AMKR) Stock Price Down 10.1% - Time to Sell?

Key Points

• Amkor Technology shares fell 10.1% on Thursday, trading as low as $72.84 before closing at $71.88. Trading volume was below average, with 2.55 million shares changing hands versus a 4.89 million daily average.
• The company reported better-than-expected quarterly results on April 27, posting EPS of $0.33 versus the $0.23 estimate and revenue of $1.68 billion versus $1.63 billion expected. Revenue rose 27.5% year over year.
• Analysts remain split on the stock, with the consensus rating at Hold and an average price target of $69.88. Recent insider selling and mixed analyst actions may be adding to investor caution.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report)'s share price fell 10.1% during trading on Thursday . The company traded as low as $72.84 and last traded at $71.8840. 2,553,618 shares changed hands during trading, a decline of 48% from the average daily volume of 4,885,829 shares. The stock had previously closed at $79.99.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Needham & Company LLC upped their price target on shares of Amkor Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. The Goldman Sachs Group increased their price target on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Wall Street Zen downgraded shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Finally, B. Riley Financial raised their target price on Amkor Technology from $70.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, June 25th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $69.88.

Amkor Technology Price Performance

The firm has a market cap of $17.24 billion, a PE ratio of 39.83 and a beta of 2.20. The firm's fifty day simple moving average is $75.57 and its two-hundred day simple moving average is $57.66. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

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

Amkor Technology Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.5%. Amkor Technology's dividend payout ratio (DPR) is currently 18.86%.

Insider Activity

In other Amkor Technology news, Director Gil C. Tily sold 15,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the sale, the director owned 108,806 shares in the company, valued at $8,410,703.80. The trade was a 12.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Winston J. Churchill sold 5,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $78.20, for a total value of $391,000.00. Following the transaction, the director directly owned 28,781 shares of the company's stock, valued at approximately $2,250,674.20. The trade was a 14.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 119,000 shares of company stock valued at $8,928,600. Company insiders own 26.40% of the company's stock.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently modified their holdings of AMKR. Royal Bank of Canada boosted its stake in Amkor Technology by 100.6% during the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock worth $349,000 after buying an additional 3,454,012 shares during the period. Fisher Asset Management LLC lifted its stake in Amkor Technology by 204.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company's stock worth $82,712,000 after purchasing an additional 1,407,109 shares during the last quarter. Norges Bank bought a new position in shares of Amkor Technology during the fourth quarter valued at approximately $53,702,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Amkor Technology by 305.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,574,607 shares of the semiconductor company's stock worth $44,719,000 after acquiring an additional 1,186,313 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Amkor Technology by 38.3% in the 2nd quarter. AQR Capital Management LLC now owns 3,558,040 shares of the semiconductor company's stock valued at $74,541,000 after acquiring an additional 985,727 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company's stock.

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.

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