Amkor Technology (NASDAQ:AMKR) Sees Large Volume Increase – What’s Next?

Amkor Technology, Inc. (NASDAQ:AMKR) saw strong trading volume on Wednesday . 1,813,897 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 1,605,549 shares.The stock last traded at $18.03 and had previously closed at $18.11.

Analyst Ratings Changes

AMKR has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of Amkor Technology in a report on Tuesday, February 11th. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their target price for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Finally, B. Riley reduced their target price on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.50.

Amkor Technology Stock Performance

The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.53 billion, a PE ratio of 12.84 and a beta of 1.88. The company has a 50-day moving average price of $21.68 and a two-hundred day moving average price of $25.53.

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

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be paid a $0.0827 dividend. This represents a $0.33 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio is presently 23.08%.

Insider Activity

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the sale, the insider now owns 10,020,870 shares in the company, valued at $218,956,009.50. This trade represents a 7.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares of the company’s stock, valued at $30,105.72. The trade was a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Institutional Trading of Amkor Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Amkor Technology during the fourth quarter worth approximately $32,479,000. Vanguard Group Inc. raised its position in Amkor Technology by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock worth $402,414,000 after purchasing an additional 1,092,002 shares during the period. Wellington Management Group LLP lifted its stake in Amkor Technology by 522.0% in the third quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock worth $34,704,000 after purchasing an additional 951,764 shares during the last quarter. Principal Financial Group Inc. boosted its position in Amkor Technology by 212.6% during the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after buying an additional 925,644 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Amkor Technology by 15.8% during the fourth quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock valued at $104,853,000 after buying an additional 556,761 shares during the last quarter. 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.