State Street Corp Buys 176,528 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

State Street Corp grew its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,355,817 shares of the semiconductor company's stock after buying an additional 176,528 shares during the period. State Street Corp owned 1.36% of Amkor Technology worth $102,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of Amkor Technology by 1.3% during the second quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company's stock valued at $948,000 after acquiring an additional 296 shares during the period. CWM LLC lifted its holdings in shares of Amkor Technology by 15.1% in the second quarter. CWM LLC now owns 2,359 shares of the semiconductor company's stock valued at $94,000 after buying an additional 309 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Amkor Technology by 8.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company's stock valued at $168,000 after buying an additional 333 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of Amkor Technology by 1.7% in the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company's stock worth $665,000 after purchasing an additional 357 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in shares of Amkor Technology by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 25,314 shares of the semiconductor company's stock valued at $1,013,000 after buying an additional 461 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares of the company's stock, valued at $6,458,636.21. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 31.40% of the company's stock.

Analysts Set New Price Targets

AMKR has been the topic of a number of analyst reports. StockNews.com cut Amkor Technology from a "buy" rating to a "hold" rating 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 report on Tuesday, October 29th. Morgan Stanley reduced their price target on shares of Amkor Technology from $35.00 to $26.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on shares of Amkor Technology from $48.00 to $42.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Finally, DA Davidson reduced their target price on Amkor Technology from $40.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.29.

Amkor Technology Stock Performance

Shares of AMKR traded up $0.44 during mid-day trading on Monday, hitting $26.98. The company's stock had a trading volume of 1,334,485 shares, compared to its average volume of 1,315,279. Amkor Technology, Inc. has a one year low of $24.10 and a one year high of $44.86. The stock's 50-day moving average is $27.58 and its two-hundred day moving average is $31.96. The firm has a market capitalization of $6.65 billion, a PE ratio of 18.23 and a beta of 1.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released 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 firm had revenue of $1.86 billion for 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 business's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. As a group, sell-side analysts anticipate that Amkor Technology, Inc. will post 1.42 EPS for the current year.

Amkor Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be given a $0.0827 dividend. This is an increase from Amkor Technology's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.33 annualized dividend and a yield of 1.23%. Amkor Technology's payout ratio is presently 22.30%.

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.