Arizona State Retirement System Cuts Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Arizona State Retirement System cut its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,916 shares of the semiconductor company’s stock after selling 557 shares during the quarter. Arizona State Retirement System’s holdings in Amkor Technology were worth $1,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Amkor Technology by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 347 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Amkor Technology during the first quarter worth approximately $38,000. Blue Trust Inc. increased its position in shares of Amkor Technology by 57.0% during the fourth quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 540 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Amkor Technology during the first quarter worth approximately $52,000. Finally, Advisors Asset Management Inc. increased its position in shares of Amkor Technology by 57.3% during the first quarter. Advisors Asset Management Inc. now owns 2,936 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 1,069 shares in the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $31.30 on Tuesday. The business has a 50-day moving average of $31.70 and a 200 day moving average of $29.23. Amkor Technology, Inc. has a 12 month low of $17.58 and a 12 month high of $37.00. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 21.44 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the business posted $0.67 EPS. Amkor Technology’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that Amkor Technology, Inc. will post 1.63 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s dividend payout ratio is currently 21.23%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the sale, the chief financial officer now owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.23, for a total transaction of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares of the company’s stock, valued at approximately $3,887,385.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. Insiders have sold 58,200 shares of company stock valued at $1,801,870 in the last quarter. Corporate insiders own 53.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AMKR has been the topic of a number of recent research reports. Fox Advisors began coverage on Amkor Technology in a research note on Thursday, March 14th. They set an “equal weight” rating on the stock. Needham & Company LLC began coverage on Amkor Technology in a research note on Tuesday, April 9th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Amkor Technology in a research note on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

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.