American International Group Inc. announced in its latest Form 13F filing with the Securities and Exchange Commission that it reduced its holdings in Amkor Technology Inc. (NASDAQ:AMKR – Free Report ) by 1.7% during the first quarter. The institutional investor now holds 191,295 shares of the semiconductor company’s stock, selling 3,269 shares during the quarter. American International Group Inc. holds approximately 0.08% of Amkor Technology Inc. shares, valued at $6,167,000, according to the latest SEC filing.
Other hedge funds and institutional investors also recently modified their holdings of the company. Pacer Advisors increased its holdings in Amkor Technology by 78.7% in the fourth quarter. Pacer Advisors now owns 15,517 shares of the semiconductor company’s stock, valued at $516,000, after purchasing an additional 6,836 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Amkor Technology by 15.5% in the fourth quarter. Ritholtz Wealth Management now owns 30,353 shares of the semiconductor company’s stock, valued at $1,010,000, after acquiring an additional 4,074 shares in the period. Blue Trust increased its holdings in Amkor Technology by 57.0% in the fourth 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 in the last quarter. Fifth Third Bancorp increased its holdings in 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 increased its holdings in Amkor Technology by 1,324.6% in the fourth quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 755 shares in the last quarter. 42.76% of the stock is held by hedge funds and other institutional investors.
Insider Activities
In related news, Executive Vice President, Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction value of $156,500. Following the completion of the transaction, the Executive Vice President now owns 25,280 shares of the company’s stock, valued at approximately $791,264. The transaction was disclosed in a legal filing with the SEC, which can be accessed on the SEC’s website. In related news, Executive Vice President, Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction value of $156,500. Following the sale, the Executive Vice President now directly owns 25,280 shares of the company’s stock, valued at approximately $791,264. The transaction was disclosed in a legal filing with the SEC, available at this link. Additionally, 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 this 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. In the last 90 days, insiders have sold a total of 75,000 shares of the company’s stock, valued at $2,708,250. Currently, 31.40% of the stock is owned by company insiders.
Analyst Rating Changes
A number of research firms have issued reports on AMKR. Morgan Stanley increased their price target on 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 increased their price target on Amkor Technology to $40.00 and reaffirmed their “buy” rating in a report on Tuesday, April 30th. The Goldman Sachs Group raised 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 increased their price target 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. initiated coverage on Amkor Technology in a report on Monday, July 1st. They have set an “overweight” rating and a $48.00 price target on the stock. Three analysts have rated the company’s stock with a hold rating, and six have given it a buy rating. According to MarketBeat data, Amkor Technology currently has an average “moderate buy” rating and a consensus target price of $40.43.
Read the latest report on AMKR
Amkor Technology’s price performance
Amkor Technology’s shares opened trading at $38.15 on Friday. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio (PE) of 25.10 and a beta of 1.86. Amkor Technology’s 12-month low and high are $17.58 and $44.86, respectively. The company’s quick ratio is 2.08, current ratio is 2.34 and debt-to-equity ratio is 0.26. The company’s 50-day moving average price is $37.48 and 200-day moving average price is $33.69.
Amkor Technology (NASDAQ:AMKR – Get free report ) last released 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 an ROE of 9.53% and a net margin of 5.84%. Revenues for the business were $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Year-ago revenues were $0.18 per share. Revenues for the business were down 7.2% year-over-year. Sell-side analysts expect Amkor Technology, Inc. to post earnings of $1.76 per share for the current fiscal year.
Amkor Technology announces dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.079 per share, which equates to an annual dividend of $0.32, or a yield of 0.83%. The ex-dividend date is Tuesday, June 4th. Amkor Technology has a dividend payout ratio of 20.39%.
Amkor Technology Profile
(Free report)
Amkor Technology, Inc provides semiconductor packaging and test outsourcing services in the United States, Japan, Europe, the Middle East, Africa and Asia Pacific. The company offers turnkey packaging and test services including semiconductor wafer bump, wafer probe, wafer backgrind, package design, packaging, system level and final test, and direct delivery services, flip chip scale package products for smartphones, tablets and other mobile consumer electronics, flip chip stacked chip scale packages for stacking memory digital baseband and using as application 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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