Cerity Partners LLC Purchases 192,093 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Cerity Partners LLC raised its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 145.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 324,148 shares of the semiconductor company's stock after acquiring an additional 192,093 shares during the quarter. Cerity Partners LLC owned approximately 0.13% of Amkor Technology worth $9,919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in 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 purchasing an additional 3,772,095 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Amkor Technology during the 2nd quarter worth about $58,379,000. Ceredex Value Advisors LLC bought a new position in shares of Amkor Technology in the 3rd quarter valued at about $42,610,000. Millennium Management LLC increased its position in shares of Amkor Technology by 359.7% in the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company's stock valued at $54,439,000 after acquiring an additional 1,064,404 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Amkor Technology by 212.6% during the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company's stock worth $41,647,000 after acquiring an additional 925,644 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMKR shares. The Goldman Sachs Group decreased their price target on Amkor Technology from $36.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, October 29th. DA Davidson cut their price objective on Amkor Technology from $40.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. KeyCorp lowered their target price on shares of Amkor Technology from $38.00 to $34.00 and set an "overweight" rating on the stock in a report 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 report on Tuesday, October 29th. Finally, Morgan Stanley decreased their price objective 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. Four 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, the company has an average rating of "Moderate Buy" and a consensus price target of $36.29.

Amkor Technology Stock Performance

AMKR stock traded down $0.26 during midday trading on Wednesday, reaching $26.02. 802,430 shares of the company were exchanged, compared to its average volume of 1,317,613. Amkor Technology, Inc. has a one year low of $24.10 and a one year high of $44.86. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 17.32 and a beta of 1.85. The business has a 50-day moving average price of $28.69 and a two-hundred day moving average price of $32.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84.

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

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.0827 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Amkor Technology's previous quarterly dividend of $0.08. Amkor Technology's dividend payout ratio (DPR) is 20.95%.

Insider Buying and Selling

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company's 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 transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 31.40% of the stock is currently owned by insiders.

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.