Amkor Technology (NASDAQ:AMKR) Trading Down 1.7% - Time to Sell?

Key Points

• Amkor Technology shares fell 1.7% in mid-day trading, even as trading volume came in above average at 5.45 million shares. The stock moved between $70.09 and $73.46 during the session.
• Recent analyst updates were mixed, with several firms raising price targets but maintaining cautious ratings. The consensus view remains “Hold” with a consensus price target of $67.38.
• The company posted a strong quarterly beat, reporting $0.33 EPS versus $0.23 expected and revenue of $1.68 billion, up 27.5% year over year. Amkor also announced a quarterly dividend of $0.0835 per share, payable June 23.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report)'s stock price traded down 1.7% during mid-day trading on Wednesday . The company traded as low as $70.09 and last traded at $72.19. 5,451,870 shares were traded during trading, an increase of 19% from the average session volume of 4,585,691 shares. The stock had previously closed at $73.46.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on Amkor Technology from $43.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Wall Street Zen cut Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Morgan Stanley boosted their target price on 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 reissued a "neutral" rating and set a $80.00 price target on shares of Amkor Technology in a research report on Tuesday. Finally, Zacks Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.38.

Amkor Technology Stock Down 1.7%

The firm has a 50-day moving average of $61.14 and a 200 day moving average of $49.92. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 41.25 and a beta of 2.29. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.23 by $0.10. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.Amkor Technology's revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. On average, sell-side analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis 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 presently 18.86%.

Insider Buying and Selling

In other Amkor Technology news, Director Douglas A. Alexander sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the director directly owned 29,109 shares of the company's stock, valued at $2,229,167.22. This represents a 14.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gil C. Tily sold 15,000 shares of the company'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 value of $1,159,500.00. Following the completion of the transaction, the director directly owned 108,806 shares in the company, valued at approximately $8,410,703.80. The trade was a 12.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,000 shares of company stock worth $8,258,950 over the last 90 days. 26.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors have recently made changes to their positions in AMKR. Fisher Asset Management LLC increased its holdings in shares of Amkor Technology by 204.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company's stock valued at $82,712,000 after acquiring an additional 1,407,109 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Amkor Technology by 47.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 519,461 shares of the semiconductor company's stock valued at $14,753,000 after acquiring an additional 166,091 shares during the last quarter. UBS Group AG increased its holdings in shares of Amkor Technology by 205.5% in the 4th quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company's stock valued at $49,534,000 after acquiring an additional 843,983 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Amkor Technology by 53.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 59,386 shares of the semiconductor company's stock valued at $1,767,000 after acquiring an additional 20,710 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Amkor Technology in the 4th quarter valued at approximately $4,868,000. 42.76% of the stock is 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.

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