Holocene Advisors LP purchased a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 36,791 shares of the semiconductor company's stock, valued at approximately $1,126,000.
Several other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings in Amkor Technology by 24,383.3% during the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company's stock valued at $115,899,000 after purchasing an additional 3,772,095 shares during the period. Driehaus Capital Management LLC acquired a new position in Amkor Technology during the second quarter valued at approximately $58,379,000. Ceredex Value Advisors LLC acquired a new position in Amkor Technology during the third quarter valued at approximately $42,610,000. Millennium Management LLC grew its holdings in Amkor Technology by 359.7% during the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company's stock valued at $54,439,000 after purchasing an additional 1,064,404 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Amkor Technology by 212.6% during the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company's stock valued at $41,647,000 after purchasing an additional 925,644 shares during the period. Institutional investors and hedge funds own 42.76% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on AMKR shares. DA Davidson cut their price target on shares of Amkor Technology from $40.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their price target on shares of Amkor Technology from $48.00 to $42.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Needham & Company LLC cut their price target on shares of Amkor Technology from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. KeyCorp cut their price target on shares of Amkor Technology from $38.00 to $34.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Finally, Morgan Stanley cut their price target on shares of Amkor Technology from $35.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $36.29.
Read Our Latest Stock Report on AMKR
Amkor Technology Stock Up 1.0 %
Shares of AMKR stock traded up $0.27 during trading on Friday, reaching $26.28. The company's stock had a trading volume of 810,288 shares, compared to its average volume of 1,006,714. The business has a fifty day moving average price of $27.97 and a 200-day moving average price of $32.24. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 17.76 and a beta of 1.84. Amkor Technology, Inc. has a one year low of $24.10 and a one year high of $44.86. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21.
Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01). The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 EPS. Analysts anticipate that Amkor Technology, Inc. will post 1.42 earnings per share for the current year.
Amkor Technology Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th will be given a $0.0827 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Amkor Technology's previous quarterly dividend of $0.08. Amkor Technology's payout ratio is 22.30%.
Insider Transactions at Amkor Technology
In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 31.40% of the company's stock.
About Amkor Technology
(
Free Report)
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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