Wellington Management Group LLP Buys 951,764 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Wellington Management Group LLP raised its stake in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 522.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,134,106 shares of the semiconductor company's stock after purchasing an additional 951,764 shares during the quarter. Wellington Management Group LLP owned approximately 0.46% of Amkor Technology worth $34,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMKR. Valley Wealth Managers Inc. raised its holdings in Amkor Technology by 115.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company's stock valued at $22,359,000 after acquiring an additional 391,002 shares in the last quarter. Intech Investment Management LLC bought a new stake in Amkor Technology during the 2nd quarter worth $874,000. General American Investors Co. Inc. bought a new stake in Amkor Technology during the 3rd quarter worth $3,060,000. Chase Investment Counsel Corp bought a new stake in shares of Amkor Technology in the 2nd quarter valued at about $3,481,000. Finally, Principal Financial Group Inc. grew its position in shares of Amkor Technology by 212.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company's stock valued at $41,647,000 after buying an additional 925,644 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the transaction, the chief executive officer now directly owns 204,971 shares of the company's stock, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.40% of the stock is owned by corporate insiders.

Amkor Technology Stock Performance

Shares of AMKR traded up $0.05 on Friday, reaching $26.43. 411,286 shares of the company's stock traded hands, compared to its average volume of 1,310,803. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $6.52 billion, a PE ratio of 17.82 and a beta of 1.84. The stock's 50 day simple moving average is $27.72 and its two-hundred day simple moving average is $32.06. Amkor Technology, Inc. has a 52-week low of $24.10 and a 52-week high of $44.86.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the business posted $0.54 earnings per share. The business's revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a yield of 1.25%. This is a positive change from Amkor Technology's previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 4th. Amkor Technology's dividend payout ratio is 22.30%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com lowered Amkor Technology from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. DA Davidson cut their target price on Amkor Technology from $40.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC dropped their price target on Amkor Technology from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group dropped their price target on Amkor Technology from $36.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 29th. Finally, KeyCorp dropped their price target on Amkor Technology from $38.00 to $34.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.29.

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.