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

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

Several other institutional investors also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Amkor Technology during the 2nd quarter valued at about $40,000. Larson Financial Group LLC grew its position in Amkor Technology by 911.3% in the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 1,130 shares during the period. Capital Performance Advisors LLP bought a new stake in Amkor Technology in the 3rd quarter worth approximately $39,000. Rothschild Investment LLC purchased a new stake in Amkor Technology during the 2nd quarter valued at $52,000. Finally, Ulland Investment Advisors LLC bought a new position in shares of Amkor Technology during the 3rd quarter valued at $82,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Stock Performance

NASDAQ AMKR traded up $0.20 on Tuesday, reaching $26.47. 370,666 shares of the stock were exchanged, compared to its average volume of 1,323,516. The firm has a market capitalization of $6.53 billion, a PE ratio of 17.89 and a beta of 1.84. Amkor Technology, Inc. has a one year low of $24.10 and a one year high of $44.86. The company's 50-day simple moving average is $27.01 and its two-hundred day simple moving average is $31.68. 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 (NASDAQ:AMKR - Get Free Report) last released 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 net margin of 5.68% and a return on equity of 8.98%. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the firm posted $0.54 EPS. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. Analysts expect that Amkor Technology, Inc. will post 1.42 EPS for the current fiscal year.

Amkor Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were given a dividend of $0.0827 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.33 annualized dividend and a dividend yield of 1.25%. This is a boost from Amkor Technology's previous quarterly dividend of $0.08. Amkor Technology's dividend payout ratio (DPR) is currently 22.30%.

Insider Activity at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 31.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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 report on Tuesday, October 29th. Morgan Stanley lowered 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. Needham & Company LLC cut their target price on shares of Amkor Technology from $45.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday, October 29th. KeyCorp decreased 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, The Goldman Sachs Group dropped their price target on shares of Amkor Technology from $36.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.