Bank of New York Mellon Corp Purchases 274,300 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Bank of New York Mellon Corp lifted its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,605,889 shares of the semiconductor company's stock after purchasing an additional 274,300 shares during the period. Bank of New York Mellon Corp owned 0.65% of Amkor Technology worth $41,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMKR. 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 valued at $115,899,000 after acquiring an additional 3,772,095 shares in the last quarter. Wellington Management Group LLP grew its stake in Amkor Technology by 522.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company's stock valued at $34,704,000 after purchasing an additional 951,764 shares during the period. Principal Financial Group Inc. grew its stake in 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 purchasing an additional 925,644 shares during the period. FMR LLC increased its position in shares of Amkor Technology by 35.7% during the 3rd quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company's stock valued at $47,595,000 after purchasing an additional 409,241 shares during the last quarter. Finally, Valley Wealth Managers Inc. raised its stake in shares of Amkor Technology by 115.1% during the 3rd quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company's stock worth $22,359,000 after purchasing an additional 391,002 shares during the period. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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Amkor Technology Stock Performance

Shares of Amkor Technology stock traded down $0.92 during trading hours on Monday, reaching $19.82. The company had a trading volume of 1,897,044 shares, compared to its average volume of 1,448,147. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. Amkor Technology, Inc. has a one year low of $19.65 and a one year high of $44.86. The firm has a market cap of $4.89 billion, a PE ratio of 13.86 and a beta of 1.88. The business has a fifty day simple moving average of $23.97 and a 200 day simple moving average of $26.96.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. On average, analysts anticipate that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be issued a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, March 13th. Amkor Technology's dividend payout ratio (DPR) is presently 23.08%.

Analyst Upgrades and Downgrades

AMKR has been the subject of a number of research analyst reports. Melius Research downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Needham & Company LLC reissued a "buy" rating and set a $34.00 target price on shares of Amkor Technology in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on shares of Amkor Technology from $42.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Morgan Stanley reduced their price objective 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. Finally, B. Riley decreased their target price on Amkor Technology from $38.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $31.50.

Insiders Place Their Bets

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the sale, the executive vice president now owns 1,388 shares of the company's stock, valued at $30,105.72. This trade represents a 79.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the transaction, the insider now directly owns 10,020,870 shares of the company's stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company's stock.

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.