Meeder Asset Management Inc. raised its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR – Free Report) by 62.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,139 shares of the semiconductor company’s stock after purchasing an additional 11,589 shares during the quarter. Meeder Asset Management Inc.’s holdings in Amkor Technology were worth $1,357,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AMKR. IFP Advisors Inc raised 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 purchasing an additional 447 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Amkor Technology by 180.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 440 shares during the last quarter. Root Financial Partners LLC increased its holdings in Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock worth $37,000 after buying an additional 262 shares during the period. Advisors Asset Management Inc. increased its holdings in Amkor Technology by 61.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after buying an additional 854 shares during the period. Finally, State of Wyoming purchased a new position in Amkor Technology during the 4th quarter worth approximately $41,000. 42.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AMKR has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. The Goldman Sachs Group raised their target price on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Needham & Company LLC boosted their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a research report on Friday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Amkor Technology in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.88.
Amkor Technology Price Performance
NASDAQ:AMKR opened at $62.56 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. Amkor Technology, Inc. has a 52 week low of $20.86 and a 52 week high of $96.68. The stock’s 50-day moving average price is $73.89 and its 200-day moving average price is $60.09. The stock has a market capitalization of $15.51 billion, a PE ratio of 35.75 and a beta of 2.20.
Amkor Technology (NASDAQ:AMKR – Get Free Report) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm posted $0.09 EPS. Amkor Technology’s quarterly revenue was up 27.5% compared to the same quarter last year. As a group, 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 was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Amkor Technology’s dividend payout ratio is presently 18.86%.
Insider Activity
In other news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $71.63, for a total transaction of $358,150.00. Following the transaction, the executive vice president owned 38,904 shares in the company, valued at $2,786,693.52. This trade represents a 11.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Amkor Technology stock in a transaction on Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the sale, the director directly owned 502,558 shares in the company, valued at $37,330,008.24. This represents a 9.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 114,000 shares of company stock worth $8,631,450. Insiders own 26.40% of the company’s stock.
Amkor Technology Profile
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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