Raymond James Financial Inc. Invests $5.67 Million in Amkor Technology, Inc. (NASDAQ:AMKR)

Raymond James Financial Inc. bought a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 220,571 shares of the semiconductor company's stock, valued at approximately $5,666,000. Raymond James Financial Inc. owned about 0.09% of Amkor Technology at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMKR. Mutual of America Capital Management LLC grew its position in Amkor Technology by 3.5% in the third quarter. Mutual of America Capital Management LLC now owns 61,253 shares of the semiconductor company's stock worth $1,874,000 after acquiring an additional 2,055 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Amkor Technology by 5.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 160,991 shares of the semiconductor company's stock valued at $4,926,000 after purchasing an additional 8,598 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Amkor Technology by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company's stock valued at $57,495,000 after buying an additional 88,226 shares in the last quarter. Cerity Partners LLC lifted its position in Amkor Technology by 145.5% in the 3rd quarter. Cerity Partners LLC now owns 324,148 shares of the semiconductor company's stock worth $9,919,000 after buying an additional 192,093 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in Amkor Technology by 46.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company's stock worth $56,000 after buying an additional 580 shares during the last quarter. Institutional investors own 42.76% of the company's stock.

Remove Ads

Analyst Ratings Changes

AMKR has been the topic of several research reports. Melius Research downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Amkor Technology from $42.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. B. Riley cut their price target 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. Needham & Company LLC restated a "buy" rating and set a $34.00 target price on shares of Amkor Technology in a report on Tuesday, February 11th. Finally, Morgan Stanley decreased their price target on 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Amkor Technology presently has an average rating of "Moderate Buy" and an average target price of $31.50.

Insider Activity at Amkor Technology

In other news, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the transaction, the insider now directly owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 completion of the sale, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. The trade was a 79.82 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by corporate insiders.

Amkor Technology Trading Down 0.1 %

Amkor Technology stock traded down $0.02 during mid-day trading on Friday, reaching $18.30. 2,932,504 shares of the company traded hands, compared to its average volume of 1,587,585. The firm's 50 day moving average price is $22.16 and its 200 day moving average price is $25.83. Amkor Technology, Inc. has a 52-week low of $18.14 and a 52-week high of $44.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.80 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be paid a $0.0827 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.33 annualized dividend and a dividend yield of 1.81%. Amkor Technology's payout ratio is 23.08%.

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.