New York State Teachers Retirement System Decreases Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

New York State Teachers Retirement System lowered its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,759 shares of the semiconductor company’s stock after selling 1,298 shares during the period. New York State Teachers Retirement System’s holdings in Amkor Technology were worth $1,589,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMKR. Fifth Third Bancorp grew its stake in shares of Amkor Technology by 65.8% in 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 during the last quarter. Arizona State Retirement System grew its stake in shares of Amkor Technology by 1.4% in the third quarter. Arizona State Retirement System now owns 31,473 shares of the semiconductor company’s stock worth $711,000 after purchasing an additional 428 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Amkor Technology by 3.2% in the third quarter. Mercer Global Advisors Inc. ADV now owns 15,359 shares of the semiconductor company’s stock worth $347,000 after purchasing an additional 475 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Amkor Technology by 11.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,808 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 506 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Amkor Technology by 57.0% in 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 during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insider Activity

In other news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $32.00, for a total transaction of $86,400.00. Following the completion of the transaction, the chief financial officer now directly owns 35,394 shares in the company, valued at $1,132,608. The transaction was disclosed in a document filed 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 Amkor Technology stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the completion of the transaction, the chief executive officer now directly owns 124,476 shares in the company, valued at $3,887,385.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $32.00, for a total transaction of $86,400.00. Following the transaction, the chief financial officer now owns 35,394 shares of the company’s stock, valued at $1,132,608. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,200 shares of company stock worth $1,801,870. Insiders own 53.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Amkor Technology Stock Performance

Amkor Technology stock opened at $31.21 on Wednesday. The stock’s 50 day simple moving average is $31.71 and its two-hundred day simple moving average is $29.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 21.38 and a beta of 1.96. Amkor Technology, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $37.00.

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

Amkor Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Amkor Technology’s payout ratio is 21.23%.

Amkor Technology Profile

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.