Amkor Technology (NASDAQ:AMKR) Stock Price Down 1.7% – What’s Next?

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

Wall Street Analysts Forecast Growth

AMKR has been the subject of several analyst reports. UBS Group reaffirmed a “neutral” rating and set a $80.00 target price on shares of Amkor Technology in a report on Tuesday. Wall Street Zen lowered shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 21st. Morgan Stanley upped 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 note on Tuesday, April 28th. Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, April 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amkor Technology in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Amkor Technology has a consensus rating of “Hold” and a consensus price target of $67.38.

Read Our Latest Stock Analysis on Amkor Technology

Amkor Technology Stock Down 1.4%

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 company has a market capitalization of $17.24 billion, a PE ratio of 39.75 and a beta of 2.29. The business’s 50 day simple moving average is $62.18 and its 200 day simple moving average is $50.44.

Amkor Technology (NASDAQ:AMKRGet Free Report) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm’s revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, analysts forecast that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Announces Dividend

The business also recently declared 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. 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 18.86%.

Insider Buying and Selling at Amkor Technology

In other news, Director Douglas A. Alexander sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the director directly owned 29,109 shares in the company, valued at $2,229,167.22. The trade was a 14.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $1,159,500.00. Following the transaction, the director owned 108,806 shares in the company, valued at approximately $8,410,703.80. This represents 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 insiders.

Hedge Funds Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMKR. Bessemer Group Inc. raised its position in Amkor Technology by 72.1% during the third quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 391 shares in the last quarter. IFP Advisors Inc raised its position in Amkor Technology by 91.2% during the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 447 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Amkor Technology by 180.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 440 shares in the last quarter. Root Financial Partners LLC raised its position in Amkor Technology by 38.8% during the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 262 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 854 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

About Amkor Technology

(Get Free Report)

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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