Amkor Technology, Inc. Declares Quarterly Dividend of $0.08 (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Thursday, March 13th will be given a dividend of 0.0827 per share by the semiconductor company on Wednesday, April 2nd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, March 13th.

Amkor Technology has increased its dividend payment by an average of 23.3% annually over the last three years. Amkor Technology has a dividend payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amkor Technology to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.33 annual dividend with an expected future payout ratio of 16.7%.

Amkor Technology Trading Down 4.4 %

Amkor Technology stock opened at $19.82 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. Amkor Technology has a 52 week low of $19.65 and a 52 week high of $44.86. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.86 and a beta of 1.88. The stock has a 50-day moving average price of $23.85 and a 200 day moving average price of $26.87.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) 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%. Sell-side analysts anticipate that Amkor Technology will post 1.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMKR. JPMorgan Chase & Co. decreased their price target 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 restated a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research report on Tuesday, February 11th. Morgan Stanley cut their price objective on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Melius cut Amkor Technology from a “buy” rating to a “hold” rating and cut their price objective for the company from $34.00 to $30.00 in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.50.

Insider Buying and Selling at Amkor Technology

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

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.