Victory Capital Management Inc. lowered its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 75.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,102 shares of the semiconductor company's stock after selling 159,707 shares during the quarter. Victory Capital Management Inc.'s holdings in Amkor Technology were worth $1,364,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Highland Capital Management LLC raised its holdings in shares of Amkor Technology by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 7,814 shares of the semiconductor company's stock valued at $201,000 after purchasing an additional 482 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Amkor Technology by 46.3% in the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company's stock valued at $56,000 after acquiring an additional 580 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Amkor Technology by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 39,718 shares of the semiconductor company's stock valued at $1,020,000 after acquiring an additional 782 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Amkor Technology by 0.8% in the fourth quarter. GHP Investment Advisors Inc. now owns 95,786 shares of the semiconductor company's stock valued at $2,461,000 after acquiring an additional 785 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its stake in Amkor Technology by 5.4% during the third quarter. Freedom Investment Management Inc. now owns 15,476 shares of the semiconductor company's stock worth $474,000 after buying an additional 792 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.
Insider Activity
In other news, EVP Kevin Engel sold 5,489 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the sale, the executive vice president now directly owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 10,020,870 shares of the company's stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 31.40% of the company's stock.
Amkor Technology Price Performance
Shares of NASDAQ AMKR remained flat at $19.42 during mid-day trading on Friday. The stock had a trading volume of 14,880,287 shares, compared to its average volume of 1,516,137. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 13.58 and a beta of 1.88. Amkor Technology, Inc. has a 12 month low of $18.87 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 stock has a 50 day moving average price of $22.65 and a 200-day moving average price of $26.11.
Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. As a group, sell-side analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.
Amkor Technology Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, March 13th. Amkor Technology's dividend payout ratio is currently 23.08%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on shares of Amkor Technology from $42.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and issued a $34.00 price objective on shares of Amkor Technology in a research note on Tuesday, February 11th. Melius Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Finally, Melius downgraded shares of Amkor Technology from a "buy" rating to a "hold" rating and reduced their price target for the company from $34.00 to $30.00 in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Amkor Technology currently has an average rating of "Moderate Buy" and an average target price of $31.50.
View Our Latest Stock Analysis on AMKR
Amkor Technology Profile
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Free Report)
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.
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