Prudential Financial Inc. Reduces Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Prudential Financial Inc. lessened its position in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,266 shares of the semiconductor company's stock after selling 29,502 shares during the period. Prudential Financial Inc. owned about 0.07% of Amkor Technology worth $4,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Amkor Technology by 5.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 105,521 shares of the semiconductor company's stock worth $3,229,000 after buying an additional 5,307 shares during the last quarter. FMR LLC grew its holdings in shares of Amkor Technology by 35.7% during the 3rd quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company's stock valued at $47,595,000 after purchasing an additional 409,241 shares during the last quarter. BNP Paribas Financial Markets raised its position in Amkor Technology by 510.1% in the third quarter. BNP Paribas Financial Markets now owns 118,579 shares of the semiconductor company's stock valued at $3,629,000 after purchasing an additional 99,143 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Amkor Technology by 7.2% during the third quarter. MetLife Investment Management LLC now owns 58,567 shares of the semiconductor company's stock worth $1,792,000 after purchasing an additional 3,956 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Amkor Technology by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,890 shares of the semiconductor company's stock valued at $8,595,000 after buying an additional 14,389 shares during the period. 42.76% of the stock is owned by institutional investors.

Amkor Technology Trading Down 6.1 %

NASDAQ:AMKR traded down $0.97 on Friday, reaching $14.88. The company's stock had a trading volume of 3,750,923 shares, compared to its average volume of 1,655,809. The stock has a 50 day moving average price of $21.11 and a 200 day moving average price of $25.24. Amkor Technology, Inc. has a 12-month low of $14.07 and a 12-month high of $44.86. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 10.41 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, topping the consensus estimate 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, equities analysts anticipate that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were issued a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 2.22%. Amkor Technology's payout ratio is 23.08%.

Analysts Set New Price Targets

Several research firms have recently commented on AMKR. JPMorgan Chase & Co. decreased their price objective on Amkor Technology from $42.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Melius cut shares of Amkor Technology from a "buy" rating to a "hold" rating and lowered their target price for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. B. Riley cut their price target on shares of Amkor Technology from $38.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Melius Research downgraded Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $34.00 price target on shares of Amkor Technology in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.50.

Insider Buying and Selling

In other news, major shareholder Agnes C. Kim sold 869,565 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares in the company, valued at $218,956,009.50. This trade represents a 7.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of Amkor Technology 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 transaction, the executive vice president now owns 1,388 shares of the company's stock, valued at $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company's stock.

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.