Amkor Technology, Inc. (NASDAQ:AMKR – Get Free Report)’s stock price fell 6.1% on Monday . The company traded as low as $65.23 and last traded at $66.04. 4,081,456 shares changed hands during mid-day 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 research firms have recently weighed in on AMKR. Morgan Stanley boosted their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Needham & Company LLC upped their price target on shares of Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Zacks Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. upped their price target on shares of Amkor Technology from $32.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.75.
Check Out Our Latest Report on Amkor Technology
Amkor Technology Stock Down 6.1%
Amkor Technology (NASDAQ:AMKR – Get Free Report) last issued 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. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. Amkor Technology’s revenue for the quarter was up 27.5% compared to the same quarter last year. Sell-side analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.
Amkor Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be given a $0.0835 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. Amkor Technology’s dividend payout ratio is presently 18.86%.
Insider Buying and Selling
In other news, Director Gil C. Tily sold 15,000 shares of the 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 completion of the sale, the director owned 108,806 shares of the company’s stock, valued at $8,410,703.80. This represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas A. Alexander sold 5,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the director directly owned 29,109 shares of the company’s stock, valued at $2,229,167.22. The trade was a 14.66% 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 corporate insiders.
Institutional Investors Weigh In On Amkor Technology
Several large investors have recently made changes to their positions in AMKR. Bessemer Group Inc. increased 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 worth $26,000 after acquiring an additional 391 shares in the last quarter. IFP Advisors Inc increased 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 worth $27,000 after acquiring an additional 447 shares in the last quarter. Smartleaf Asset Management LLC increased 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 worth $28,000 after acquiring an additional 440 shares in the last quarter. Root Financial Partners LLC increased 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 worth $37,000 after acquiring an additional 262 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Amkor Technology by 61.8% in the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 854 shares in the last quarter. 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.
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