Massachusetts Financial Services Co. MA Increases Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Massachusetts Financial Services Co. MA lifted its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 5.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,991 shares of the semiconductor company’s stock after buying an additional 8,598 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.07% of Amkor Technology worth $4,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AMKR. Earnest Partners LLC boosted its stake in Amkor Technology by 3.2% during the second quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock worth $96,979,000 after acquiring an additional 75,364 shares in the last quarter. American Century Companies Inc. boosted its stake in Amkor Technology by 54.4% during 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. Driehaus Capital Management LLC bought a new stake in Amkor Technology during the second quarter worth about $58,379,000. Ceredex Value Advisors LLC bought a new stake in Amkor Technology during the third quarter worth about $42,610,000. Finally, Principal Financial Group Inc. boosted its stake in Amkor Technology by 212.6% during the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock worth $41,647,000 after acquiring an additional 925,644 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Down 2.3 %

Shares of Amkor Technology stock opened at $26.28 on Wednesday. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 17.76 and a beta of 1.85. The company’s 50 day moving average is $28.78 and its 200 day moving average is $32.65. Amkor Technology, Inc. has a twelve month low of $24.10 and a twelve month high of $44.86. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Research analysts anticipate that Amkor Technology, Inc. will post 1.42 EPS for the current year.

Amkor Technology Increases Dividend

The firm also recently announced 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 is a boost from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Wednesday, December 4th. Amkor Technology’s dividend payout ratio is currently 22.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Needham & Company LLC dropped their target price on shares of 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 target price 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. 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 note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. dropped their target price 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.29.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $6,458,636.21. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 31.40% of the stock is owned by corporate insiders.

Amkor Technology 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.