Vanguard Group Inc. Increases Stake in Amkor Technology, Inc. $AMKR

Vanguard Group Inc. lifted its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,025,236 shares of the semiconductor company’s stock after purchasing an additional 361,010 shares during the period. Vanguard Group Inc. owned about 6.49% of Amkor Technology worth $289,416,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMKR. UMB Bank n.a. boosted its holdings in shares of Amkor Technology by 677.0% in the 1st quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 1,530 shares in the last quarter. Allworth Financial LP raised its position in shares of Amkor Technology by 166.3% in the 1st quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 1,357 shares during the last quarter. Versant Capital Management Inc raised its position in Amkor Technology by 467.7% during the 1st quarter. Versant Capital Management Inc now owns 3,009 shares of the semiconductor company’s stock worth $54,000 after buying an additional 2,479 shares during the last quarter. Palouse Capital Management Inc. raised its position in Amkor Technology by 52.2% during the 1st quarter. Palouse Capital Management Inc. now owns 4,010 shares of the semiconductor company’s stock worth $72,000 after buying an additional 1,375 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Amkor Technology by 54.9% during the 1st quarter. GAMMA Investing LLC now owns 4,853 shares of the semiconductor company’s stock worth $88,000 after buying an additional 1,721 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMKR has been the subject of several recent research reports. The Goldman Sachs Group began coverage on shares of Amkor Technology in a report on Thursday, July 10th. They set a “neutral” rating and a $20.00 target price for the company. UBS Group boosted their price target on shares of Amkor Technology from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. B. Riley boosted their price target on shares of Amkor Technology from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. DA Davidson decreased their target price 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. Finally, Morgan Stanley restated an “equal weight” rating on shares of Amkor Technology in a report on Tuesday, July 29th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.44.

Amkor Technology Price Performance

AMKR opened at $23.76 on Monday. The company has a quick ratio of 1.70, a current ratio of 1.89 and a debt-to-equity ratio of 0.28. Amkor Technology, Inc. has a 52-week low of $14.03 and a 52-week high of $33.85. The company has a 50 day moving average of $21.76 and a two-hundred day moving average of $20.15. The company has a market cap of $5.87 billion, a P/E ratio of 19.32 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Amkor Technology had a net margin of 4.80% and a return on equity of 7.23%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. On average, analysts expect that Amkor Technology, Inc. will post 1.47 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.0827 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.33 annualized dividend and a dividend yield of 1.4%. Amkor Technology’s dividend payout ratio (DPR) is 26.83%.

Insider Activity

In other news, major shareholder John T. Kim acquired 441,589 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $21.85 per share, for a total transaction of $9,648,719.65. Following the completion of the acquisition, the insider owned 3,789,479 shares of the company’s stock, valued at approximately $82,800,116.15. This represents a 13.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sujoda Management, Llc acquired 441,589 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $21.85 per share, for a total transaction of $9,648,719.65. Following the acquisition, the insider directly owned 3,789,479 shares of the company’s stock, valued at $82,800,116.15. The trade was a 13.19% increase in their position. The disclosure for this purchase can be found here. Insiders own 26.90% of the company’s stock.

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.