Amkor Technology (NASDAQ:AMKR) Trading Down 1.7% – Time to Sell?

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

Analyst Ratings Changes

AMKR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Amkor Technology in a report on Monday, April 20th. Needham & Company LLC upped their price objective on Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Zacks Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. UBS Group restated a “neutral” rating and set a $80.00 price objective on shares of Amkor Technology in a research note on Tuesday. Finally, Morgan Stanley upped their price objective on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.38.

Amkor Technology Stock Performance

The company has a market cap of $17.89 billion, a P/E ratio of 41.25 and a beta of 2.29. The company has a 50 day moving average price of $61.14 and a 200-day moving average price of $49.92. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. Equities analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal 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 paid a $0.0835 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. Amkor Technology’s dividend payout ratio is presently 18.86%.

Insider Buying and Selling

In other news, Director Winston J. Churchill sold 7,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.45, for a total value of $535,150.00. Following the completion of the transaction, the director owned 18,888 shares of the company’s stock, valued at approximately $1,443,987.60. This represents a 27.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Douglas A. Alexander sold 5,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the director directly owned 29,109 shares of the company’s stock, valued at approximately $2,229,167.22. The trade was a 14.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 113,000 shares of company stock valued at $8,258,950. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Amkor Technology

Several institutional investors have recently modified their holdings of AMKR. Royal Bank of Canada lifted its holdings in shares of Amkor Technology by 100.6% in the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock valued at $349,000 after buying an additional 3,454,012 shares during the period. Advisors Asset Management Inc. lifted its holdings 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 valued at $40,000 after buying an additional 854 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Amkor Technology by 913.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 6,768 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Amkor Technology by 73.4% in the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company’s stock valued at $9,476,000 after buying an additional 222,107 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of Amkor Technology in the first quarter valued at $271,000. 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.