Amkor Technology (NASDAQ:AMKR) Sets New 52-Week Low – Here’s What Happened

Amkor Technology, Inc. (NASDAQ:AMKR) shares hit a new 52-week low on Monday . The company traded as low as $24.03 and last traded at $23.98, with a volume of 771790 shares trading hands. The stock had previously closed at $25.69.

Analyst Ratings Changes

AMKR has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Melius downgraded Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. The Goldman Sachs Group reduced their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley lowered their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Finally, Melius Research downgraded shares of 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.50.

Amkor Technology Trading Up 1.9 %

The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 16.57 and a beta of 1.83. The company has a fifty day moving average of $26.06 and a two-hundred day moving average of $29.36.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business posted $0.54 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that Amkor Technology, Inc. will post 1.38 EPS for the current year.

Amkor Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were given a $0.0827 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a yield of 1.35%. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio (DPR) is presently 22.30%.

Hedge Funds Weigh In On Amkor Technology

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. raised its position in 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 acquiring an additional 3,772,095 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Amkor Technology during the 3rd quarter worth $42,610,000. Millennium Management LLC grew its stake in shares of Amkor Technology by 359.7% during the 2nd quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock worth $54,439,000 after purchasing an additional 1,064,404 shares during the period. Wellington Management Group LLP increased its holdings in shares of Amkor Technology by 522.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock valued at $34,704,000 after purchasing an additional 951,764 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Amkor Technology by 212.6% in 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 purchasing an additional 925,644 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.