Insider Selling: Amkor Technology, Inc. (NASDAQ:AMKR) Major Shareholder Sells 869,565 Shares of Stock

Amkor Technology, Inc. (NASDAQ:AMKR) major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the sale, the insider now owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Amkor Technology Stock Down 5.2 %

NASDAQ:AMKR opened at $20.98 on Friday. 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, Inc. has a 12-month low of $20.95 and a 12-month high of $44.86. The stock’s fifty day simple moving average is $24.64 and its 200-day simple moving average is $27.53. The firm has a market capitalization of $5.18 billion, a P/E ratio of 14.67 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, beating 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%. Equities research analysts expect that Amkor Technology, Inc. will post 1.47 earnings per share for the current year.

Amkor Technology Cuts Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on AMKR. B. Riley lowered their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley decreased their price target on shares of 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 shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research report on Tuesday, February 11th. Finally, Melius cut Amkor Technology from a “buy” rating to a “hold” rating and lowered their target price for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.50.

Institutional Investors Weigh In On Amkor Technology

Several large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Amkor Technology in the 4th quarter valued at $27,000. Capital Performance Advisors LLP acquired a new stake in Amkor Technology during the 3rd quarter worth $39,000. Jones Financial Companies Lllp lifted its holdings in Amkor Technology by 353.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 1,160 shares in the last quarter. Bessemer Group Inc. grew its stake in Amkor Technology by 421.0% in the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 1,242 shares during the period. Finally, Hurley Capital LLC bought a new stake in shares of Amkor Technology in the fourth quarter worth about $43,000. Institutional investors own 42.76% of the company’s stock.

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.