Amkor Technology, Inc. (NASDAQ:AMKR) Stock Holdings Lowered by Amalgamated Bank

Amalgamated Bank reduced its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 20.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,802 shares of the semiconductor company’s stock after selling 13,665 shares during the quarter. Amalgamated Bank’s holdings in Amkor Technology were worth $1,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMKR. Driehaus Capital Management LLC bought a new stake in shares of Amkor Technology in the 2nd quarter worth approximately $58,379,000. Ceredex Value Advisors LLC purchased a new position in shares of Amkor Technology in the third quarter worth approximately $42,610,000. Millennium Management LLC increased its position in shares of Amkor Technology by 359.7% in the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock worth $54,439,000 after acquiring an additional 1,064,404 shares in the last quarter. American Century Companies Inc. increased its position in shares of Amkor Technology by 54.4% in the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after acquiring an additional 589,530 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of Amkor Technology in the first quarter worth approximately $11,435,000. 42.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their target price 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. Morgan Stanley dropped their target price 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. KeyCorp lowered 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 report on Tuesday, October 29th. Needham & Company LLC lowered their price objective 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, DA Davidson lowered their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” 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 six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.63.

Insider Transactions at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value 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 approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Winston J. Churchill sold 20,000 shares of the business’s 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 completion of the sale, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was 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 owns 204,971 shares of the company’s stock, valued at $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.

Amkor Technology Price Performance

NASDAQ AMKR opened at $26.48 on Wednesday. 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 stock has a market capitalization of $6.53 billion, a PE ratio of 17.89 and a beta of 1.85. The company has a 50 day moving average price of $29.45 and a two-hundred day moving average price of $33.04. Amkor Technology, Inc. has a 12-month low of $23.44 and a 12-month high of $44.86.

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

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.