Chase Investment Counsel Corp Makes New Investment in Amkor Technology, Inc. (NASDAQ:AMKR)

Chase Investment Counsel Corp bought a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,595 shares of the semiconductor company's stock, valued at approximately $400,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMKR. Pacer Advisors Inc. boosted its stake in Amkor Technology by 24,383.3% during the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company's stock valued at $115,899,000 after buying an additional 3,772,095 shares during the period. State Street Corp lifted its holdings in shares of Amkor Technology by 5.6% during the 3rd quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company's stock worth $102,688,000 after acquiring an additional 176,528 shares during the last quarter. Geode Capital Management LLC grew its position in Amkor Technology by 6.7% in the third 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. Principal Financial Group Inc. increased its stake in Amkor Technology by 44.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,972,293 shares of the semiconductor company's stock valued at $50,665,000 after acquiring an additional 611,209 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in 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 valued at $57,495,000 after purchasing an additional 88,226 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Melius Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Melius lowered Amkor Technology from a "buy" rating to a "hold" rating and cut their target price for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Morgan Stanley lowered their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on shares of Amkor Technology from $42.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Finally, B. Riley lowered their price target 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Amkor Technology currently has a consensus rating of "Hold" and an average price target of $31.50.

Amkor Technology Stock Up 1.6 %

AMKR stock traded up $0.32 during trading on Wednesday, hitting $20.72. 2,299,030 shares of the stock traded hands, compared to its average volume of 1,737,103. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 14.49 and a beta of 1.81. 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 1 year low of $19.93 and a 1 year high of $44.86. The firm's 50 day moving average is $24.32 and its two-hundred day moving average is $27.22.

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

Amkor Technology Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology's payout ratio is presently 23.08%.

Insiders Place Their Bets

In related news, major shareholder Agnes C. Kim sold 869,565 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares of the company's stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kevin Engel sold 5,489 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by insiders.

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.