Rhumbline Advisers Reduces Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Rhumbline Advisers lessened its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,752 shares of the semiconductor company’s stock after selling 1,391 shares during the period. Rhumbline Advisers owned 0.12% of Amkor Technology worth $5,558,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock valued at $402,414,000 after acquiring an additional 1,092,002 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Amkor Technology by 7.9% in the 4th quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company’s stock valued at $122,767,000 after buying an additional 350,809 shares during the period. Alliancebernstein L.P. grew its stake in shares of Amkor Technology by 15.8% in the 4th quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock valued at $104,853,000 after buying an additional 556,761 shares during the period. American Century Companies Inc. grew its stake in shares of Amkor Technology by 24.4% in the 4th quarter. American Century Companies Inc. now owns 2,709,002 shares of the semiconductor company’s stock valued at $69,594,000 after buying an additional 530,771 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Amkor Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company’s stock valued at $54,209,000 after buying an additional 15,211 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Needham & Company LLC dropped their price target on shares of Amkor Technology from $34.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. DA Davidson decreased their price objective on shares of Amkor Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. decreased their price objective on shares of Amkor Technology from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. B. Riley lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, April 21st. Finally, KeyCorp restated a “sector weight” rating on shares of Amkor Technology in a report on Thursday, April 17th. Seven investment 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, the company currently has a consensus rating of “Hold” and an average price target of $28.00.

Amkor Technology Price Performance

Amkor Technology stock opened at $20.39 on Friday. The firm has a market cap of $5.04 billion, a PE ratio of 14.26 and a beta of 1.83. Amkor Technology, Inc. has a 52-week low of $14.03 and a 52-week high of $44.86. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $18.03 and its two-hundred day moving average is $21.54.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, April 28th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. On average, research analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.0827 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.33 dividend on an annualized basis and a yield of 1.62%. Amkor Technology’s dividend payout ratio (DPR) is presently 25.78%.

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.