JPMorgan Chase & Co. Reduces Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

JPMorgan Chase & Co. reduced its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 35.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 248,133 shares of the semiconductor company’s stock after selling 133,713 shares during the quarter. JPMorgan Chase & Co.’s holdings in Amkor Technology were worth $7,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Amkor Technology in the 3rd quarter worth about $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in Amkor Technology during the second quarter valued at about $40,000. Larson Financial Group LLC boosted its position in Amkor Technology by 46.3% during the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 580 shares during the period. Ulland Investment Advisors LLC purchased a new position in shares of Amkor Technology in the third quarter worth about $82,000. Finally, Quarry LP raised its position in shares of Amkor Technology by 421.8% in the third quarter. Quarry LP now owns 3,136 shares of the semiconductor company’s stock valued at $96,000 after purchasing an additional 2,535 shares during the period. 42.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. KeyCorp cut their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. DA Davidson reduced their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Melius cut Amkor Technology from a “buy” rating to a “hold” rating and decreased their price target for the company from $34.00 to $30.00 in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amkor Technology presently has an average rating of “Hold” and a consensus price target of $35.50.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $25.31 on Wednesday. The stock has a market cap of $6.24 billion, a P/E ratio of 17.10 and a beta of 1.83. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $26.26 and its two-hundred day moving average price is $30.57. Amkor Technology, Inc. has a twelve month low of $24.10 and a twelve month high of $44.86.

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

Amkor Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th were given a dividend of $0.0827 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.33 annualized dividend and a dividend yield of 1.31%. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio (DPR) is 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.