Oppenheimer Asset Management Inc. Cuts Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Oppenheimer Asset Management Inc. lessened its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,052 shares of the semiconductor company’s stock after selling 729 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Amkor Technology were worth $1,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in shares of Amkor Technology in the 2nd quarter worth approximately $31,000. Capital Performance Advisors LLP purchased a new position in shares of Amkor Technology in the 3rd quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Amkor Technology in the 2nd quarter worth approximately $40,000. Larson Financial Group LLC lifted its stake in 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 last quarter. Finally, Rothschild Investment LLC purchased a new position in Amkor Technology in the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on 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 objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Needham & Company LLC dropped their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. KeyCorp dropped their price objective on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, DA Davidson dropped their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Amkor Technology has a consensus rating of “Moderate Buy” and an average target price of $36.29.

Amkor Technology Trading Up 0.8 %

NASDAQ:AMKR opened at $25.39 on Tuesday. The company has a market cap of $6.26 billion, a P/E ratio of 17.16 and a beta of 1.85. The stock’s fifty day moving average price is $29.17 and its two-hundred day moving average price is $32.87. Amkor Technology, Inc. has a 1 year low of $24.10 and a 1 year high of $44.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results 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). The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. As a group, analysts expect that Amkor Technology, Inc. will post 1.42 EPS for the current year.

Amkor Technology Increases Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, December 4th. This represents a $0.33 annualized dividend and a dividend yield of 1.30%. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio is presently 20.95%.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction on 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 of the company’s stock, 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 through the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of the 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 transaction, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. This represents a 50.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

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.