ProShare Advisors LLC Lowers Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

ProShare Advisors LLC decreased its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 9.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,300 shares of the semiconductor company’s stock after selling 3,494 shares during the quarter. ProShare Advisors LLC’s holdings in Amkor Technology were worth $1,373,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMKR. Pineridge Advisors LLC purchased a new position in shares of Amkor Technology in the fourth quarter valued at approximately $28,000. 1620 Investment Advisors Inc. purchased a new position in shares of Amkor Technology in the second quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Amkor Technology in the second quarter valued at approximately $40,000. Headlands Technologies LLC purchased a new position in shares of Amkor Technology in the first quarter valued at approximately $43,000. Finally, Larson Financial Group LLC boosted its stake in shares of Amkor Technology by 911.3% in the second 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 period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insider Activity

In other news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on Monday, July 15th. The shares were sold at an average price of $42.94, for a total value of $1,073,500.00. Following the transaction, the chief executive officer now directly owns 128,333 shares in the company, valued at approximately $5,510,619.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares in the company, valued at $655,146.87. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Amkor Technology Stock Down 3.2 %

AMKR stock opened at $30.89 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. Amkor Technology, Inc. has a twelve month low of $17.58 and a twelve month high of $44.86. The company’s 50 day moving average is $32.02 and its two-hundred day moving average is $33.54. The stock has a market cap of $7.59 billion, a P/E ratio of 20.32 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. Research analysts expect that Amkor Technology, Inc. will post 1.53 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 3rd were issued a $0.079 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.02%. Amkor Technology’s payout ratio is 20.39%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 2nd. B. Riley lifted their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. assumed coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price target for the company. Needham & Company LLC lifted their price target on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, KeyCorp assumed coverage on shares of Amkor Technology in a research note on Friday, September 20th. They issued an “overweight” rating and a $38.00 price target for the company. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

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.