Amkor Technology (NASDAQ:AMKR) Shares Gap Down – Here’s What Happened

Amkor Technology, Inc. (NASDAQ:AMKR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $15.97, but opened at $15.24. Amkor Technology shares last traded at $15.48, with a volume of 124,648 shares trading hands.

Wall Street Analyst Weigh In

AMKR has been the topic of a number of recent research reports. KeyCorp reissued a “sector weight” rating on shares of Amkor Technology in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 target price on shares of Amkor Technology in a research note on Tuesday, February 11th. Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Finally, Morgan Stanley lowered their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Amkor Technology has an average rating of “Hold” and an average price target of $31.50.

Amkor Technology Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. The firm has a market cap of $3.86 billion, a PE ratio of 10.92 and a beta of 1.88. The business has a 50-day simple moving average of $19.23 and a 200 day simple moving average of $24.08.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. Equities research analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were paid a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 2.12%. Amkor Technology’s payout ratio is 23.08%.

Insider Activity

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the sale, the insider now owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the transaction, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Amkor Technology in the 4th quarter worth approximately $27,000. UMB Bank n.a. increased its position in Amkor Technology by 677.0% during the first quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 1,530 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Amkor Technology by 353.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 1,160 shares during the period. Bessemer Group Inc. boosted its stake in shares of Amkor Technology by 421.0% during the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,242 shares during the period. Finally, Hurley Capital LLC purchased a new stake in Amkor Technology in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.