Geode Capital Management LLC Raises Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Geode Capital Management LLC grew its stake in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,109,507 shares of the semiconductor company's stock after purchasing an additional 15,211 shares during the period. Geode Capital Management LLC owned about 0.86% of Amkor Technology worth $54,209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMKR. Highland Capital Management LLC boosted its holdings in Amkor Technology by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 7,814 shares of the semiconductor company's stock worth $201,000 after buying an additional 482 shares in the last quarter. Robotti Robert raised its position in shares of Amkor Technology by 0.3% in the fourth quarter. Robotti Robert now owns 215,837 shares of the semiconductor company's stock worth $5,545,000 after acquiring an additional 705 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Amkor Technology by 2.0% during the 4th quarter. New York State Teachers Retirement System now owns 39,718 shares of the semiconductor company's stock worth $1,020,000 after acquiring an additional 782 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of Amkor Technology by 0.8% during the 4th quarter. GHP Investment Advisors Inc. now owns 95,786 shares of the semiconductor company's stock valued at $2,461,000 after acquiring an additional 785 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Amkor Technology by 36.9% in the 4th quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company's stock valued at $88,000 after purchasing an additional 922 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.

Analyst Upgrades and Downgrades

AMKR has been the topic of several research analyst reports. KeyCorp reissued a "sector weight" rating on shares of Amkor Technology in a report on Thursday. Melius Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. B. Riley decreased their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and issued a $34.00 target price on shares of Amkor Technology in a research report on Tuesday, February 11th. Finally, Melius downgraded shares of Amkor Technology from a "buy" rating to a "hold" rating and reduced their price target for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.50.

Insider Activity at Amkor Technology

In related news, EVP Kevin Engel sold 5,489 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,388 shares in the company, valued at approximately $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction 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 completion of the sale, the insider now owns 10,020,870 shares in the company, valued at $218,956,009.50. This represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. 26.90% of the stock is currently owned by insiders.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR traded down $0.18 during midday trading on Friday, hitting $15.97. The company's stock had a trading volume of 1,690,209 shares, compared to its average volume of 1,718,717. The company has a market cap of $3.95 billion, a P/E ratio of 11.17 and a beta of 1.88. Amkor Technology, Inc. has a 12-month low of $14.03 and a 12-month high of $44.86. The business's 50 day simple moving average is $19.23 and its 200 day simple moving average is $24.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates 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, analysts forecast 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 was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were issued a dividend of $0.0827 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 annualized dividend and a dividend yield of 2.07%. Amkor Technology's dividend payout ratio is presently 23.08%.

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.