Amkor Technology (NASDAQ:AMKR) Stock Price Down 10.1% – Here’s Why

Amkor Technology, Inc. (NASDAQ:AMKR)’s share price dropped 10.1% during mid-day trading on Thursday . The stock traded as low as $72.84 and last traded at $71.8840. Approximately 2,553,618 shares changed hands during mid-day 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 brokerages recently issued reports on AMKR. The Goldman Sachs Group increased their price objective on Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. UBS Group restated a “neutral” rating and issued a $80.00 price target on shares of Amkor Technology in a report on Tuesday, May 26th. Morgan Stanley boosted their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Needham & Company LLC boosted their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Melius Research upgraded Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $69.88.

Amkor Technology Stock Down 13.1%

The company has a 50-day moving average of $75.57 and a 200-day moving average of $57.66. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $17.24 billion, a price-to-earnings ratio of 39.83 and a beta of 2.20.

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

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were issued a $0.0835 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis 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 Winston J. Churchill sold 5,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $78.20, for a total transaction of $391,000.00. Following the sale, the director owned 28,781 shares in the company, valued at approximately $2,250,674.20. The trade was a 14.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $74.28, for a total value of $3,714,000.00. Following the completion of the transaction, the director owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 119,000 shares of company stock valued at $8,928,600. 26.40% of the stock is owned by corporate insiders.

Institutional Trading of Amkor Technology

Several large investors have recently made changes to their positions in the business. IFP Advisors Inc increased its stake 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 during the period. Smartleaf Asset Management LLC raised its stake in shares of Amkor Technology by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 440 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 262 shares during the period. Advisors Asset Management Inc. boosted its stake 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 buying an additional 854 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in Amkor Technology by 83.5% during the third quarter. FNY Investment Advisers LLC now owns 1,472 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 670 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.