Principal Financial Group Inc. Boosts Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Principal Financial Group Inc. increased its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 44.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,972,293 shares of the semiconductor company's stock after purchasing an additional 611,209 shares during the period. Principal Financial Group Inc. owned approximately 0.80% of Amkor Technology worth $50,665,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Amkor Technology by 24,383.3% in the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company's stock worth $115,899,000 after purchasing an additional 3,772,095 shares during the last quarter. State Street Corp boosted its position in Amkor Technology by 5.6% in the 3rd quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company's stock valued at $102,688,000 after buying an additional 176,528 shares during the period. Geode Capital Management LLC grew its stake in Amkor Technology by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company's stock worth $64,101,000 after acquiring an additional 131,106 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amkor Technology by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company's stock worth $57,495,000 after acquiring an additional 88,226 shares during the period. Finally, FMR LLC raised its stake in shares of Amkor Technology by 35.7% during the third quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company's stock valued at $47,595,000 after acquiring an additional 409,241 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. KeyCorp lowered their price target on Amkor Technology from $38.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Morgan Stanley lowered their target price on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. Melius Research lowered 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 objective 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. Finally, B. Riley lowered their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Amkor Technology currently has a consensus rating of "Hold" and an average price target of $31.50.

Amkor Technology Stock Performance

AMKR traded down $0.77 during trading on Friday, reaching $22.24. 1,165,833 shares of the company's stock were exchanged, compared to its average volume of 1,614,848. 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 company's fifty day simple moving average is $25.08 and its 200-day simple moving average is $27.79. Amkor Technology, Inc. has a 1 year low of $21.46 and a 1 year high of $44.86. The stock has a market capitalization of $5.49 billion, a P/E ratio of 15.55 and a beta of 1.81.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. As a group, research analysts predict 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 1.49%. Amkor Technology's dividend payout ratio is presently 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.