Amkor Technology (NASDAQ:AMKR) Shares Down 6.1% – Time to Sell?

Amkor Technology, Inc. (NASDAQ:AMKR)’s stock price was down 6.1% during mid-day trading on Monday . The company traded as low as $65.23 and last traded at $66.04. Approximately 4,081,456 shares traded hands during trading, a decline of 10% from the average daily volume of 4,535,210 shares. The stock had previously closed at $70.35.

Key Amkor Technology News

Here are the key news stories impacting Amkor Technology this week:

• Positive Sentiment: Amkor announced it secured an additional 67 acres in Arizona to expand its U.S. advanced packaging operations, signaling continued investment in domestic capacity and potential long-term growth. Amkor Technology Expands U.S. Advanced Packaging Footprint with Additional Land in Arizona
• Positive Sentiment: New commentary from Zacks and MSN described Amkor Technology as a top growth stock for the long term, which can support investor confidence in the company’s outlook. Why Amkor Technology (AMKR) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Shareholders re-elected the board and approved executive pay at the annual meeting, suggesting normal governance approval without a major surprise for investors. Amkor Shareholders Reelect Board and Approve Executive Pay
• Negative Sentiment: Two insiders sold shares this week, including the CFO and an EVP, which may slightly weigh on sentiment even though both transactions were made under pre-arranged 10b5-1 plans. SEC filing for Megan Faust sale SEC filing for Mark N. Rogers sale

Analyst Ratings Changes

Several research analysts have commented on AMKR shares. JPMorgan Chase & Co. raised their price objective on Amkor Technology from $32.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Zacks Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Wall Street Zen cut Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a report on Monday, April 20th. Finally, Morgan Stanley upped their price target on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.75.

Amkor Technology Stock Performance

The company has a market capitalization of $16.98 billion, a PE ratio of 39.14 and a beta of 2.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The company has a 50 day moving average price of $58.66 and a 200 day moving average price of $48.76.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 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 the consensus estimate of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. Equities analysts forecast that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The firm 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 is Wednesday, June 3rd. Amkor Technology’s dividend payout ratio (DPR) is presently 18.86%.

Insiders Place Their Bets

In related news, Director Gil C. Tily sold 15,000 shares of the business’s stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the sale, the director directly owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 145,500 shares of company stock worth $9,844,325. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in shares of 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 purchasing an additional 391 shares during the period. IFP Advisors Inc increased its holdings in shares of 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 purchasing an additional 447 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of 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 purchasing an additional 440 shares during the period. Root Financial Partners LLC increased its holdings in shares of 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 purchasing an additional 262 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 854 shares during the period. 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.