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

Amkor Technology, Inc. (NASDAQ:AMKR) major shareholder Agnes C. Kim sold 869,565 shares of the 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 owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Amkor Technology Stock Down 5.2 %

Shares of AMKR stock opened at $20.98 on Friday. Amkor Technology, Inc. has a 12 month low of $20.95 and a 12 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. The firm has a market cap of $5.18 billion, a PE ratio of 14.67 and a beta of 1.81. The stock has a 50 day moving average of $24.64 and a 200-day moving average of $27.53.

Amkor Technology (NASDAQ:AMKR) last released 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 net margin of 5.60% and a return on equity of 8.59%. On average, equities analysts predict 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 paid a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology’s payout ratio is presently 23.08%.

Hedge Funds Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Amkor Technology in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp raised its stake in shares of Amkor Technology by 353.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 1,160 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Amkor Technology in the third quarter worth $39,000. Bessemer Group Inc. boosted its stake in Amkor Technology by 421.0% during the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock worth $39,000 after buying an additional 1,242 shares in the last quarter. Finally, Hurley Capital LLC bought a new stake in Amkor Technology in the 4th quarter valued at $43,000. 42.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. B. Riley lowered their target price on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price objective on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley cut their price objective 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. Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the company from $34.00 to $30.00 in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.