Amkor Technology (NASDAQ:AMKR) Sets New 52-Week Low Following Analyst Downgrade

Amkor Technology, Inc. (NASDAQ:AMKR)’s share price reached a new 52-week low during trading on Tuesday after B. Riley lowered their price target on the stock from $38.00 to $32.00. B. Riley currently has a buy rating on the stock. Amkor Technology traded as low as $21.91 and last traded at $22.35, with a volume of 667743 shares. The stock had previously closed at $24.36.

Several other research analysts have also recently issued reports on the stock. DA Davidson reduced their target price on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, KeyCorp decreased their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Amkor Technology has a consensus rating of “Hold” and a consensus target price of $31.50.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of AMKR. Pacer Advisors Inc. boosted its position in Amkor Technology by 24,383.3% in the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after buying an additional 3,772,095 shares during the period. Ceredex Value Advisors LLC purchased a new position in Amkor Technology in the third quarter valued at $42,610,000. Wellington Management Group LLP grew its stake in Amkor Technology by 522.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock worth $34,704,000 after purchasing an additional 951,764 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock worth $41,647,000 after purchasing an additional 925,644 shares during the period. Finally, Fisher Asset Management LLC raised its position in Amkor Technology by 205.1% in the 4th quarter. Fisher Asset Management LLC now owns 641,916 shares of the semiconductor company’s stock valued at $16,491,000 after purchasing an additional 431,537 shares in the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Amkor Technology Stock Down 11.0 %

The firm has a market cap of $5.35 billion, a PE ratio of 14.67 and a beta of 1.81. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $25.73 and a 200-day moving average price of $28.31.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. Research analysts forecast that Amkor Technology, Inc. will post 1.38 EPS for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were paid a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Wednesday, December 4th. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio (DPR) is currently 22.30%.

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.