Invesco Ltd. Reduces Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Invesco Ltd. reduced its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 57.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452,833 shares of the semiconductor company’s stock after selling 599,554 shares during the period. Invesco Ltd. owned about 0.18% of Amkor Technology worth $11,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its stake in shares of Amkor Technology by 8.1% in the fourth quarter. Bank of Montreal Can now owns 17,995 shares of the semiconductor company’s stock worth $462,000 after buying an additional 1,346 shares during the period. Russell Investments Group Ltd. increased its position in shares of Amkor Technology by 25.7% in the fourth quarter. Russell Investments Group Ltd. now owns 173,355 shares of the semiconductor company’s stock valued at $4,453,000 after acquiring an additional 35,397 shares during the period. Hurley Capital LLC bought a new position in shares of Amkor Technology during the fourth quarter valued at about $43,000. Envestnet Asset Management Inc. boosted its holdings in shares of Amkor Technology by 8.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 571,448 shares of the semiconductor company’s stock worth $14,680,000 after purchasing an additional 44,689 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Amkor Technology by 19.4% in the fourth quarter. Wells Fargo & Company MN now owns 310,126 shares of the semiconductor company’s stock worth $7,967,000 after purchasing an additional 50,347 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $15.96 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 11.16 and a beta of 1.88. Amkor Technology, Inc. has a one year low of $14.03 and a one year high of $44.86. The company’s 50-day moving average is $18.99 and its 200 day moving average is $23.92.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. Sell-side analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were paid a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a yield of 2.07%. The ex-dividend date was Thursday, March 13th. Amkor Technology’s dividend payout ratio is currently 23.08%.

Analyst Ratings Changes

A number of research firms have commented on AMKR. Melius Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. KeyCorp restated a “sector weight” rating on shares of Amkor Technology in a report on Thursday, April 17th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of Amkor Technology in a report on Tuesday, February 11th. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $34.00 to $30.00 in a report on Monday, January 6th. Finally, B. Riley lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.50.

Insider Activity

In other news, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the transaction, the insider now directly owns 10,020,870 shares in the company, valued at $218,956,009.50. This trade represents a 7.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the sale, the executive vice president now owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 26.90% of the company’s stock.

Amkor Technology Company 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.