Franklin Resources Inc. Reduces Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Franklin Resources Inc. lowered its stake in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 37.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,393 shares of the semiconductor company's stock after selling 45,639 shares during the quarter. Franklin Resources Inc.'s holdings in Amkor Technology were worth $2,383,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Amkor Technology by 24,383.3% during the 3rd 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 in the last quarter. State Street Corp raised its stake in 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 buying an additional 176,528 shares during the period. Earnest Partners LLC raised its stake in Amkor Technology by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company's stock worth $96,979,000 after buying an additional 75,364 shares during the period. Geode Capital Management LLC boosted its holdings 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. Finally, Charles Schwab Investment Management Inc. grew its stake in Amkor Technology by 4.9% in 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 acquiring an additional 88,226 shares during the period. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares of the company's stock, valued at $6,458,636.21. This represents a 4.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 31.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Amkor Technology from $48.00 to $42.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Morgan Stanley dropped their price objective on shares of Amkor Technology from $35.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group decreased their target price on shares of Amkor Technology from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, October 29th. KeyCorp dropped their price target on shares of Amkor Technology from $38.00 to $34.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Finally, StockNews.com lowered Amkor Technology from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Amkor Technology has a consensus rating of "Moderate Buy" and an average price target of $36.29.

Amkor Technology Stock Performance

Shares of Amkor Technology stock traded down $0.34 during mid-day trading on Friday, hitting $26.06. 615,644 shares of the stock were exchanged, compared to its average volume of 1,317,769. Amkor Technology, Inc. has a 12 month low of $24.10 and a 12 month high of $44.86. The company has a 50-day simple moving average of $26.75 and a 200 day simple moving average of $31.55. The company has a market capitalization of $6.43 billion, a P/E ratio of 17.61 and a beta of 1.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The business 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 business posted $0.54 earnings per share. The business's revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were issued a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Wednesday, December 4th. This is an increase from Amkor Technology's previous quarterly dividend of $0.08. Amkor Technology's dividend payout ratio (DPR) is 22.30%.

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.