American International Group Inc. lowered its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR – Free Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,295 shares of the semiconductor company’s stock after selling 3,269 shares during the quarter. American International Group Inc. owned about 0.08% of Amkor Technology worth $6,167,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of Amkor Technology by 78.7% in the fourth quarter. Pacer Advisors Inc. now owns 15,517 shares of the semiconductor company’s stock worth $516,000 after buying an additional 6,836 shares during the last quarter. Ritholtz Wealth Management lifted its position in Amkor Technology by 15.5% during the 4th quarter. Ritholtz Wealth Management now owns 30,353 shares of the semiconductor company’s stock worth $1,010,000 after acquiring an additional 4,074 shares during the period. Blue Trust Inc. grew its stake in Amkor Technology by 57.0% during the 4th quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 540 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Amkor Technology by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 347 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Amkor Technology by 1,324.6% in the fourth quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 755 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the transaction, the executive vice president now owns 25,280 shares in the company, valued at approximately $791,264. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the sale, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gil C. Tily sold 20,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.20, for a total value of $644,000.00. Following the transaction, the director now directly owns 129,218 shares of the company’s stock, valued at approximately $4,160,819.60. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock worth $2,708,250 over the last 90 days. 31.40% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research firms have issued reports on AMKR. Morgan Stanley raised their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Amkor Technology in a report on Tuesday, April 30th. The Goldman Sachs Group increased their price target on Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. DA Davidson boosted their price objective on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. started coverage on Amkor Technology in a report on Monday, July 1st. They set an “overweight” rating and a $48.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Amkor Technology currently has an average rating of “Moderate Buy” and a consensus price target of $40.43.
Check Out Our Latest Report on AMKR
Amkor Technology Price Performance
Shares of Amkor Technology stock opened at $38.15 on Friday. The firm has a market cap of $9.38 billion, a PE ratio of 25.10 and a beta of 1.86. Amkor Technology, Inc. has a twelve month low of $17.58 and a twelve month high of $44.86. The company has a quick ratio of 2.08, a current ratio of 2.34 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $37.48 and a 200 day moving average price of $33.69.
Amkor Technology (NASDAQ:AMKR – Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Amkor Technology, Inc. will post 1.76 earnings per share for the current fiscal year.
Amkor Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 0.83%. The ex-dividend date was Tuesday, June 4th. Amkor Technology’s payout ratio is 20.39%.
Amkor Technology 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.
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