Thrivent Financial for Lutherans Sells 69,292 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Thrivent Financial for Lutherans decreased its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 72.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,627 shares of the semiconductor company's stock after selling 69,292 shares during the period. Thrivent Financial for Lutherans' holdings in Amkor Technology were worth $815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new position in Amkor Technology in the second quarter worth approximately $58,379,000. Ceredex Value Advisors LLC acquired a new stake in Amkor Technology during the 3rd quarter valued at $42,610,000. Millennium Management LLC raised its stake in Amkor Technology by 359.7% during the 2nd 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. Principal Financial Group Inc. raised its stake in Amkor Technology by 212.6% during 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 purchasing an additional 925,644 shares during the period. Finally, American Century Companies Inc. raised its stake in Amkor Technology by 54.4% during the 2nd quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company's stock valued at $66,966,000 after purchasing an additional 589,530 shares during the period. Institutional investors own 42.76% of the company's stock.

Amkor Technology Stock Performance

AMKR stock traded up $0.02 during mid-day trading on Wednesday, reaching $26.51. 617,354 shares of the stock traded hands, compared to its average volume of 1,312,414. 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, Inc. has a 52 week low of $24.10 and a 52 week high of $44.86. The business has a 50-day moving average of $28.26 and a two-hundred day moving average of $32.37. The firm has a market capitalization of $6.54 billion, a PE ratio of 18.23 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings results 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). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. As a group, equities analysts predict that Amkor Technology, Inc. will post 1.42 EPS for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.25%. This is a boost from Amkor Technology's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. Amkor Technology's dividend payout ratio is 20.95%.

Insider Buying and Selling at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Amkor Technology from $36.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 29th. DA Davidson dropped 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. StockNews.com downgraded shares of Amkor Technology from a "buy" rating to a "hold" rating in a research note on Tuesday, October 29th. Needham & Company LLC dropped 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. Finally, JPMorgan Chase & Co. dropped 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.