Neo Ivy Capital Management Acquires Shares of 30,368 Amkor Technology, Inc. (NASDAQ:AMKR)

Neo Ivy Capital Management purchased a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 30,368 shares of the semiconductor company's stock, valued at approximately $930,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in shares of 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 purchasing an additional 3,772,095 shares in the last quarter. State Street Corp raised its position 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 buying an additional 176,528 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Amkor Technology by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company's stock worth $96,979,000 after acquiring an additional 75,364 shares during the period. Geode Capital Management LLC lifted its stake in shares of Amkor Technology by 6.7% in the 3rd 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 acquiring an additional 88,226 shares during the period. Institutional investors and hedge funds own 42.76% of the company's stock.

Amkor Technology Trading Down 1.2 %

AMKR stock traded down $0.31 during mid-day trading on Thursday, reaching $26.38. 1,010,473 shares of the stock traded hands, compared to its average volume of 1,314,627. The stock's fifty day moving average is $27.72 and its 200-day moving average is $32.06. The company has a market cap of $6.51 billion, a P/E ratio of 17.82 and a beta of 1.84. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Amkor Technology, Inc. has a 52-week low of $24.10 and a 52-week high of $44.86.

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 the consensus estimate of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the company posted $0.54 EPS. The firm's revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Amkor Technology, Inc. will post 1.42 earnings per share for the current year.

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a dividend yield of 1.25%. This is a positive change from Amkor Technology's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. Amkor Technology's payout ratio is currently 22.30%.

Insider Buying and Selling at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares of the company's stock, valued at approximately $6,458,636.21. This represents a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMKR. StockNews.com downgraded Amkor Technology from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. Morgan Stanley cut their price objective on Amkor Technology from $35.00 to $26.00 and set an "equal weight" rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group lowered their target price on Amkor Technology from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, October 29th. KeyCorp cut their price target on shares of Amkor Technology from $38.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Finally, DA Davidson lowered their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.29.

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.