Geode Capital Management LLC trimmed its position in Amkor Technology, Inc. (NASDAQ:AMKR – Free Report) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,232,211 shares of the semiconductor company’s stock after selling 47,220 shares during the period. Geode Capital Management LLC’s holdings in Amkor Technology were worth $88,143,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Amkor Technology by 72.1% in the third quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company’s stock worth $26,000 after buying an additional 391 shares during the period. IFP Advisors Inc increased its stake in shares of Amkor Technology by 91.2% in the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after buying an additional 447 shares during the period. FNY Investment Advisers LLC increased its stake in shares of Amkor Technology by 83.5% in the third quarter. FNY Investment Advisers LLC now owns 1,472 shares of the semiconductor company’s stock worth $41,000 after buying an additional 670 shares during the period. Essex Investment Management Co. LLC purchased a new position in shares of Amkor Technology in the third quarter worth $43,000. Finally, Larson Financial Group LLC increased its stake in shares of Amkor Technology by 46.5% in the fourth quarter. Larson Financial Group LLC now owns 1,847 shares of the semiconductor company’s stock worth $73,000 after buying an additional 586 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently commented on AMKR shares. JPMorgan Chase & Co. lifted their target price on shares of Amkor Technology from $32.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. B. Riley Financial boosted their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group boosted their price objective on shares of Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Zacks Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.38.
Insider Activity
In other news, CFO Megan Faust sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $64.60, for a total transaction of $64,600.00. Following the sale, the chief financial officer owned 133,138 shares in the company, valued at approximately $8,600,714.80. The trade was a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the transaction, the director owned 502,558 shares in the company, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 113,000 shares of company stock worth $8,258,950. 26.40% of the stock is currently owned by corporate insiders.
Amkor Technology Stock Performance
Shares of AMKR stock opened at $64.95 on Monday. Amkor Technology, Inc. has a 12 month low of $19.07 and a 12 month high of $79.50. The stock has a market cap of $16.10 billion, a PE ratio of 37.11 and a beta of 2.25. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The company’s fifty day moving average price is $65.06 and its 200-day moving average price is $52.07.
Amkor Technology (NASDAQ:AMKR – Get Free Report) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business posted $0.09 EPS. The company’s quarterly revenue was up 27.5% on a year-over-year basis. On average, equities analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.
Amkor Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.0835 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology’s payout ratio is 18.86%.
About Amkor Technology
Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.
In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.
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