Acadian Asset Management LLC Takes $99,000 Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Acadian Asset Management LLC acquired a new stake in Amkor Technology, Inc. (NASDAQ:AMKR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,342 shares of the semiconductor company’s stock, valued at approximately $99,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Navellier & Associates Inc. grew its holdings in shares of Amkor Technology by 8.3% during the 2nd quarter. Navellier & Associates Inc. now owns 12,296 shares of the semiconductor company’s stock worth $366,000 after purchasing an additional 946 shares during the period. Mirabella Financial Services LLP acquired a new stake in shares of Amkor Technology during the second quarter valued at about $2,333,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Amkor Technology in the 2nd quarter valued at approximately $238,000. Barclays PLC raised its stake in shares of Amkor Technology by 47.4% in the 2nd quarter. Barclays PLC now owns 123,859 shares of the semiconductor company’s stock valued at $3,685,000 after acquiring an additional 39,818 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Amkor Technology in the 2nd quarter worth approximately $549,000. 38.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $26.19, for a total transaction of $70,713.00. Following the completion of the sale, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at approximately $926,968.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $26.19, for a total transaction of $70,713.00. Following the sale, the chief financial officer now owns 35,394 shares of the company’s stock, valued at $926,968.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder James J. Kim sold 10,000,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $23.22, for a total transaction of $232,200,000.00. Following the completion of the transaction, the insider now owns 39,594,980 shares of the company’s stock, valued at approximately $919,395,435.60. The disclosure for this sale can be found here. Insiders have sold 10,013,100 shares of company stock valued at $232,511,953 over the last quarter. 53.30% of the stock is owned by insiders.

Amkor Technology Price Performance

AMKR stock opened at $27.08 on Tuesday. The business’s 50-day moving average is $22.90 and its two-hundred day moving average is $25.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 1.65. The firm has a market capitalization of $6.66 billion, a P/E ratio of 16.41 and a beta of 1.85. Amkor Technology, Inc. has a 1 year low of $17.58 and a 1 year high of $31.38.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 30th. The semiconductor company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. Amkor Technology had a net margin of 6.11% and a return on equity of 10.79%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company earned $1.24 earnings per share. The firm’s revenue was down 12.6% compared to the same quarter last year. Analysts anticipate that Amkor Technology, Inc. will post 1.39 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Tuesday, December 5th will be paid a dividend of $0.079 per share. The ex-dividend date is Monday, December 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is presently 18.18%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. B. Riley assumed coverage on Amkor Technology in a research report on Thursday, November 16th. They issued a “buy” rating and a $35.00 target price on the stock. DA Davidson raised their target price on Amkor Technology from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. StockNews.com downgraded Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Morgan Stanley began coverage on shares of Amkor Technology in a research report on Thursday, November 9th. They set an “equal weight” rating and a $27.00 price target on the stock. Finally, UBS Group initiated coverage on shares of Amkor Technology in a report on Thursday, November 16th. They issued a “buy” rating and a $31.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amkor Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Amkor Technology Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and 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.