Amkor Technology, Inc. (NASDAQ:AMKR) Major Shareholder Agnes C. Kim Sells 869,565 Shares of Stock

Amkor Technology, Inc. (NASDAQ:AMKR) major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 10,020,870 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Amkor Technology Trading Up 1.9 %

Shares of AMKR opened at $22.14 on Thursday. Amkor Technology, Inc. has a fifty-two week low of $21.46 and a fifty-two week high of $44.86. The stock has a fifty day moving average of $24.73 and a two-hundred day moving average of $27.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The company has a market capitalization of $5.46 billion, a PE ratio of 15.48 and a beta of 1.81.

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

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be given 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 is presently 23.08%.

Analysts Set New Price Targets

A number of analysts recently commented on AMKR shares. Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $34.00 to $30.00 in a report on Monday, January 6th. Morgan Stanley decreased their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research note on Tuesday, February 11th. JPMorgan Chase & Co. decreased their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, Melius Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and five have assigned 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.

Institutional Investors Weigh In On Amkor Technology

Institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new position in shares of Amkor Technology in the 3rd quarter valued at $930,000. Valley Wealth Managers Inc. raised its position in shares of Amkor Technology by 115.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock worth $22,359,000 after buying an additional 391,002 shares during the period. Geode Capital Management LLC boosted its holdings in Amkor Technology by 6.7% in the third quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after acquiring an additional 131,106 shares during the last quarter. Principal Financial Group Inc. grew 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 acquiring an additional 925,644 shares during the period. Finally, General American Investors Co. Inc. purchased a new stake in Amkor Technology during the third quarter valued at about $3,060,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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.