Glenmede Trust Co. NA Raises Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Glenmede Trust Co. NA lifted its position in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 642.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 339,172 shares of the semiconductor company's stock after purchasing an additional 293,462 shares during the period. Glenmede Trust Co. NA owned about 0.14% of Amkor Technology worth $10,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMKR. Valley Wealth Managers Inc. boosted its holdings in Amkor Technology by 115.1% in the third quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company's stock valued at $22,359,000 after acquiring an additional 391,002 shares in the last quarter. Tidal Investments LLC bought a new stake in Amkor Technology in the first quarter valued at $584,000. Public Employees Retirement System of Ohio boosted its holdings in Amkor Technology by 282.7% in the first quarter. Public Employees Retirement System of Ohio now owns 29,787 shares of the semiconductor company's stock valued at $960,000 after acquiring an additional 22,003 shares in the last quarter. Intech Investment Management LLC bought a new stake in Amkor Technology in the second quarter valued at $874,000. Finally, General American Investors Co. Inc. bought a new stake in Amkor Technology in the third quarter valued at $3,060,000. Institutional investors own 42.76% of the company's stock.

Insider Activity at Amkor Technology

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

Amkor Technology Stock Performance

Shares of Amkor Technology stock traded up $0.42 during trading hours on Friday, reaching $26.44. 511,282 shares of the stock traded hands, compared to its average volume of 1,314,122. The company has a 50 day moving average price of $28.41 and a 200 day moving average price of $32.47. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 17.86 and a beta of 1.85. Amkor Technology, Inc. has a one year low of $24.10 and a one year high of $44.86. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01). The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts expect 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 will be paid on Monday, December 23rd. Investors of record on Wednesday, December 4th will be paid a dividend of $0.0827 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Amkor Technology's previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.25%. Amkor Technology's payout ratio is 22.30%.

Analyst Upgrades and Downgrades

AMKR has been the topic of several recent analyst reports. DA Davidson cut their price target on shares of Amkor Technology from $40.00 to $36.00 and set a "buy" rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on Amkor Technology from $48.00 to $42.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC lowered their price objective on Amkor Technology from $45.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Morgan Stanley lowered their price target on 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. Finally, The Goldman Sachs Group lowered their price target on Amkor Technology from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $36.29.

About Amkor Technology

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.