Kevin Engel Sells 5,489 Shares of Amkor Technology, Inc. (NASDAQ:AMKR) Stock

Amkor Technology, Inc. (NASDAQ:AMKR) EVP Kevin Engel sold 5,489 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the transaction, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Amkor Technology Stock Down 5.2 %

Amkor Technology stock opened at $20.98 on Friday. The company’s 50-day moving average price is $24.64 and its two-hundred day moving average price is $27.53. The stock has a market cap of $5.18 billion, a P/E ratio of 14.67 and a beta of 1.81. Amkor Technology, Inc. has a twelve month low of $20.95 and a twelve month high of $44.86. 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 (NASDAQ:AMKR) last announced its 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 net margin of 5.60% and a return on equity of 8.59%. As a group, analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.0827 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.58%. Amkor Technology’s payout ratio is presently 23.08%.

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Amkor Technology by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock worth $402,414,000 after buying an additional 1,092,002 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Amkor Technology by 7.9% during the 4th quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company’s stock valued at $122,767,000 after acquiring an additional 350,809 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Amkor Technology by 15.8% during the 4th quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock worth $104,853,000 after purchasing an additional 556,761 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Amkor Technology by 24,383.3% in the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after purchasing an additional 3,772,095 shares during the period. Finally, State Street Corp raised its stake in Amkor Technology by 5.6% in the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock valued at $102,688,000 after purchasing an additional 176,528 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMKR has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a report on Tuesday, February 11th. B. Riley cut their price target on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their price objective for the company from $34.00 to $30.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, Morgan Stanley reduced their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Amkor Technology currently has a consensus rating of “Hold” and a consensus price target 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.