Amkor Technology (NASDAQ:AMKR) Trading Down 9.3% – Time to Sell?

Amkor Technology, Inc. (NASDAQ:AMKR) shares dropped 9.3% on Monday . The company traded as low as $59.85 and last traded at $58.8870. 1,963,950 shares changed hands during trading, a decline of 59% from the average session volume of 4,844,375 shares. The stock had previously closed at $64.96.

Analyst Ratings Changes

Several research firms have weighed in on AMKR. Zacks Research upgraded Amkor Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Needham & Company LLC upped their price objective on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. UBS Group raised Amkor Technology from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $90.00 in a research report on Friday. B. Riley Financial reduced their price objective on Amkor Technology from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 22nd. Finally, Melius Research raised Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.25.

Amkor Technology Trading Down 8.3%

The company has a 50 day simple moving average of $73.36 and a 200 day simple moving average of $60.75. The company has a market capitalization of $14.77 billion, a PE ratio of 34.09 and a beta of 2.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01.

Amkor Technology (NASDAQ:AMKR) last issued 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. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The business’s revenue was up 27.5% on a year-over-year basis. Analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were given a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, June 3rd. Amkor Technology’s dividend payout ratio is 18.86%.

Insider Transactions at Amkor Technology

In other Amkor Technology news, Director Roger Anthony Carolin sold 20,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total value of $1,524,800.00. Following the completion of the sale, the director owned 94,409 shares in the company, valued at approximately $7,197,742.16. This represents a 17.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gil C. Tily sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the transaction, the director directly owned 108,806 shares in the company, valued at $8,410,703.80. This trade represents a 12.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 114,000 shares of company stock valued at $8,631,450. Company insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new position in Amkor Technology during the second quarter worth $242,000. Handelsbanken Fonder AB increased its stake in shares of Amkor Technology by 14.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 40,876 shares of the semiconductor company’s stock worth $3,525,000 after acquiring an additional 5,200 shares during the last quarter. KMG Fiduciary Partners LLC purchased a new position in shares of Amkor Technology during the 2nd quarter worth $376,000. Wealthcare Advisory Partners LLC purchased a new position in shares of Amkor Technology during the 2nd quarter worth $325,000. Finally, Arista Wealth Management LLC boosted its position in shares of Amkor Technology by 1.2% during the 2nd quarter. Arista Wealth Management LLC now owns 13,642 shares of the semiconductor company’s stock valued at $1,176,000 after acquiring an additional 157 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.