Amkor Technology, Inc. (NASDAQ:AMKR) Major Shareholder Sells $18,999,995.25 in Stock

Amkor Technology, Inc. (NASDAQ:AMKR) major shareholder Agnes C. Kim sold 869,565 shares of the company’s 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 transaction, the insider now directly owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. The trade was a 7.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Amkor Technology Trading Up 1.9 %

NASDAQ AMKR traded up $0.42 on Wednesday, reaching $22.14. 1,845,534 shares of the company were exchanged, compared to its average volume of 1,629,625. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $24.80 and its 200 day moving average price is $27.61. The stock has a market capitalization of $5.46 billion, a P/E ratio of 15.48 and a beta of 1.81. Amkor Technology, Inc. has a fifty-two week low of $21.46 and a fifty-two week high of $44.86.

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

Amkor Technology Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be paid a $0.0827 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.33 annualized dividend and a dividend yield of 1.49%. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

Institutional Trading of Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates acquired a new stake in Amkor Technology during the third quarter worth $5,148,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Amkor Technology during the 3rd quarter worth $202,000. Louisiana State Employees Retirement System increased its position in shares of Amkor Technology by 7.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the semiconductor company’s stock worth $961,000 after purchasing an additional 2,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Amkor Technology by 253.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,281 shares of the semiconductor company’s stock valued at $559,000 after buying an additional 13,111 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in Amkor Technology by 0.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 200,332 shares of the semiconductor company’s stock valued at $6,129,000 after buying an additional 1,745 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

Wall Street Analysts Forecast Growth

AMKR has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of Amkor Technology in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price target on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley lowered their price objective 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. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Melius Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.50.

About Amkor Technology

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.