Amkor Technology, Inc. (NASDAQ:AMKR) Shares Sold by Algert Global LLC

Algert Global LLC lessened its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 39.4% in the third quarter, HoldingsChannel.com reports. The firm owned 38,306 shares of the semiconductor company’s stock after selling 24,860 shares during the period. Algert Global LLC’s holdings in Amkor Technology were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cerity Partners LLC boosted its holdings in Amkor Technology by 145.5% in the third quarter. Cerity Partners LLC now owns 324,148 shares of the semiconductor company’s stock worth $9,919,000 after purchasing an additional 192,093 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Amkor Technology by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company’s stock valued at $57,495,000 after buying an additional 88,226 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Amkor Technology by 24,383.3% in the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after buying an additional 3,772,095 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Amkor Technology by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 160,991 shares of the semiconductor company’s stock valued at $4,926,000 after purchasing an additional 8,598 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Amkor Technology during the third quarter valued at about $491,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares in the company, valued at $6,458,636.21. This represents a 4.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.40% of the stock is owned by corporate insiders.

Amkor Technology Price Performance

AMKR stock opened at $26.02 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Amkor Technology, Inc. has a one year low of $24.10 and a one year high of $44.86. The firm has a market capitalization of $6.42 billion, a PE ratio of 17.58 and a beta of 1.85. The firm has a 50-day moving average of $28.61 and a two-hundred day moving average of $32.56.

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

Amkor Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th will be issued a $0.0827 dividend. This is an increase 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 dividend yield of 1.27%. Amkor Technology’s dividend payout ratio is currently 20.95%.

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.