Principal Financial Group Inc. Increases Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Principal Financial Group Inc. increased its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 212.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,361,084 shares of the semiconductor company's stock after purchasing an additional 925,644 shares during the period. Principal Financial Group Inc. owned approximately 0.55% of Amkor Technology worth $41,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AMKR. BNP Paribas Financial Markets raised its holdings in shares of Amkor Technology by 108.6% during the first quarter. BNP Paribas Financial Markets now owns 75,470 shares of the semiconductor company's stock valued at $2,433,000 after purchasing an additional 39,284 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Amkor Technology by 30.6% during the first quarter. Janney Montgomery Scott LLC now owns 24,869 shares of the semiconductor company's stock valued at $802,000 after purchasing an additional 5,824 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Amkor Technology by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 90,339 shares of the semiconductor company's stock valued at $2,913,000 after purchasing an additional 1,172 shares during the last quarter. Quantbot Technologies LP bought a new stake in Amkor Technology during the first quarter valued at approximately $1,257,000. Finally, SG Americas Securities LLC grew its position in Amkor Technology by 60.0% during the first quarter. SG Americas Securities LLC now owns 23,398 shares of the semiconductor company's stock valued at $754,000 after buying an additional 8,776 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 sale, the chief executive officer now owns 204,971 shares of the company's stock, valued at $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer now owns 204,971 shares of the company's stock, valued at $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Winston J. Churchill sold 20,000 shares of the company's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AMKR has been the subject of several recent research reports. StockNews.com lowered shares of Amkor Technology from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group cut 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 cut their target price on shares of Amkor Technology from $38.00 to $34.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. cut their target price on shares of Amkor Technology from $48.00 to $42.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Finally, Morgan Stanley dropped their price target on shares of 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.63.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR traded down $0.26 during midday trading on Monday, reaching $27.10. 887,499 shares of the company were exchanged, compared to its average volume of 1,598,625. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The business's fifty day moving average is $29.51 and its two-hundred day moving average is $33.07. Amkor Technology, Inc. has a one year low of $23.44 and a one year high of $44.86. The stock has a market cap of $6.68 billion, a PE ratio of 18.31 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share 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 company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $0.54 EPS. Amkor Technology's revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that Amkor Technology, Inc. will post 1.42 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd were given a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.17%. Amkor Technology's dividend payout ratio is 20.95%.

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.