Amkor Technology, Inc. (NASDAQ:AMKR) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 6.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,094,296 shares of the semiconductor company’s stock after purchasing an additional 131,106 shares during the period. Geode Capital Management LLC owned approximately 0.85% of Amkor Technology worth $64,101,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMKR. Ashton Thomas Private Wealth LLC acquired a new position in Amkor Technology in the 2nd quarter worth approximately $40,000. Larson Financial Group LLC boosted its position 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 worth $50,000 after buying an additional 1,130 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Amkor Technology during the third quarter valued at $39,000. Rothschild Investment LLC acquired a new position in Amkor Technology during the second quarter valued at $52,000. Finally, Ulland Investment Advisors LLC purchased a new stake in Amkor Technology in the 3rd quarter worth about $82,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 31.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. dropped 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. Needham & Company LLC cut their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. KeyCorp lowered their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, DA Davidson cut their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.29.

Amkor Technology Stock Up 0.6 %

Amkor Technology stock opened at $25.27 on Friday. The company has a market capitalization of $6.23 billion, a P/E ratio of 17.07 and a beta of 1.84. Amkor Technology, Inc. has a 1-year low of $24.10 and a 1-year high of $44.86. The firm’s fifty day simple moving average is $27.19 and its 200-day simple moving average is $31.78. 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 (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. Amkor Technology’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Sell-side analysts forecast that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio (DPR) is 22.30%.

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.