Norges Bank Acquires New Shares in Amkor Technology, Inc. (NASDAQ:AMKR)

Norges Bank bought a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,264,281 shares of the semiconductor company's stock, valued at approximately $32,479,000. Norges Bank owned 0.51% of Amkor Technology at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Robotti Robert raised its stake in Amkor Technology by 0.3% during the 4th quarter. Robotti Robert now owns 215,837 shares of the semiconductor company's stock worth $5,545,000 after buying an additional 705 shares during the period. JPMorgan Chase & Co. raised its stake in Amkor Technology by 6.4% during the 4th quarter. JPMorgan Chase & Co. now owns 263,998 shares of the semiconductor company's stock worth $6,782,000 after buying an additional 15,865 shares during the period. Vanguard Group Inc. increased its holdings in Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company's stock worth $402,414,000 after purchasing an additional 1,092,002 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Amkor Technology during the 4th quarter worth approximately $570,000. Finally, Sei Investments Co. grew its holdings in shares of Amkor Technology by 11.6% in the fourth quarter. Sei Investments Co. now owns 575,849 shares of the semiconductor company's stock valued at $14,794,000 after acquiring an additional 59,822 shares in the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Melius Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Needham & Company LLC restated a "buy" rating and set a $34.00 target price on shares of Amkor Technology in a research report on Tuesday, February 11th. Melius downgraded Amkor Technology from a "buy" rating to a "hold" rating and dropped their target price for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Morgan Stanley dropped their target price on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Finally, 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 research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

Insiders Place Their Bets

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the company's stock in a transaction that occurred 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 represents a 7.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the transaction, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This trade represents a 79.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 31.40% of the company's stock.

Amkor Technology Price Performance

AMKR traded down $1.44 during trading on Thursday, reaching $16.54. The stock had a trading volume of 381,180 shares, compared to its average volume of 2,283,063. The stock has a market cap of $4.09 billion, a PE ratio of 11.57 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. Amkor Technology, Inc. has a one year low of $14.03 and a one year high of $44.86. The business has a 50-day moving average of $20.30 and a 200-day moving average of $24.80.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. As a group, equities research analysts anticipate that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were issued a dividend of $0.0827 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 2.00%. Amkor Technology's dividend payout ratio (DPR) is 23.08%.

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.