Amkor Technology (AMKR) Shares Down 5.4%

Amkor Technology, Inc. (NASDAQ:AMKR)’s share price was down 5.4% during trading on Monday . The stock traded as low as $7.00 and last traded at $7.13. Approximately 1,545,465 shares traded hands during trading, an increase of 59% from the average daily volume of 971,802 shares. The stock had previously closed at $7.54.

Several equities analysts have commented on AMKR shares. Zacks Investment Research downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. BidaskClub raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, February 5th. Finally, TheStreet raised shares of Amkor Technology from a “c” rating to a “b-” rating in a research report on Friday, January 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $7.75.

The company has a current ratio of 1.36, a quick ratio of 1.21 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.71 billion, a P/E ratio of 13.60 and a beta of 1.91.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.06. The company had revenue of $895.00 million for the quarter, compared to the consensus estimate of $883.32 million. Amkor Technology had a return on equity of 6.03% and a net margin of 2.26%. The firm’s revenue was down 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share. As a group, equities research analysts anticipate that Amkor Technology, Inc. will post 0.19 EPS for the current fiscal year.

In other news, insider John Charles Stone sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $8.64, for a total value of $216,000.00. Following the sale, the insider now directly owns 50,722 shares of the company’s stock, valued at $438,238.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roger Anthony Carolin sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $9.36, for a total value of $187,200.00. Following the completion of the sale, the director now directly owns 54,176 shares in the company, valued at $507,087.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,476 shares of company stock worth $567,824. 59.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMKR. Norges Bank bought a new stake in shares of Amkor Technology in the fourth quarter valued at about $12,800,000. BlackRock Inc. boosted its position in shares of Amkor Technology by 14.9% during the fourth quarter. BlackRock Inc. now owns 10,521,970 shares of the semiconductor company’s stock worth $69,023,000 after purchasing an additional 1,368,384 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Amkor Technology by 182.2% during the first quarter. Renaissance Technologies LLC now owns 1,273,195 shares of the semiconductor company’s stock worth $10,873,000 after purchasing an additional 822,095 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amkor Technology by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,422,753 shares of the semiconductor company’s stock worth $114,293,000 after purchasing an additional 744,342 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Amkor Technology during the fourth quarter worth $4,646,000. Institutional investors and hedge funds own 37.74% of the company’s stock.

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About Amkor Technology (NASDAQ:AMKR)

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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