Cerity Partners LLC Purchases 192,093 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Cerity Partners LLC boosted its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 145.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,148 shares of the semiconductor company’s stock after acquiring an additional 192,093 shares during the period. Cerity Partners LLC owned about 0.13% of Amkor Technology worth $9,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AMKR. 1620 Investment Advisors Inc. bought a new position in shares of Amkor Technology during the second quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Amkor Technology during the second quarter worth $40,000. Larson Financial Group LLC lifted its holdings in shares of Amkor Technology by 911.3% during the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 1,130 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Amkor Technology in the 3rd quarter worth $39,000. Finally, Rothschild Investment LLC acquired a new position in shares of Amkor Technology during the second quarter valued at about $52,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the sale, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 31.40% of the company’s stock.

Wall Street Analysts Forecast Growth

AMKR has been the topic of several research analyst reports. Needham & Company LLC dropped their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. KeyCorp cut their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group dropped their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Finally, Morgan Stanley reduced their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.29.

Amkor Technology Stock Down 2.3 %

Shares of AMKR opened at $26.28 on Wednesday. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 17.76 and a beta of 1.85. Amkor Technology, Inc. has a 52 week low of $24.10 and a 52 week high of $44.86. The stock’s 50-day moving average price is $28.78 and its 200-day moving average price is $32.65. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 EPS. On average, sell-side analysts predict that Amkor Technology, Inc. will post 1.42 EPS for the current year.

Amkor Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be issued a $0.0827 dividend. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a yield of 1.26%. Amkor Technology’s payout ratio is presently 22.30%.

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.