Principal Financial Group Inc. Acquires 423,629 Shares of Amkor Technology, Inc. $AMKR

Principal Financial Group Inc. boosted its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 19.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,622,744 shares of the semiconductor company’s stock after acquiring an additional 423,629 shares during the period. Principal Financial Group Inc.’s holdings in Amkor Technology were worth $118,107,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AMKR. Fisher Asset Management LLC raised its holdings in shares of Amkor Technology by 204.5% during the fourth quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company’s stock valued at $82,712,000 after purchasing an additional 1,407,109 shares during the last quarter. UBS Group AG boosted its holdings in Amkor Technology by 205.5% in the fourth quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company’s stock worth $49,534,000 after purchasing an additional 843,983 shares during the last quarter. Black Swift Group LLC bought a new stake in Amkor Technology in the 4th quarter worth approximately $797,000. GF Fund Management CO. LTD. bought a new stake in Amkor Technology in the 4th quarter worth approximately $4,868,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Amkor Technology during the 4th quarter valued at $841,000. Institutional investors own 42.76% of the company’s stock.

Wall Street Analysts Forecast Growth

AMKR has been the topic of several research analyst reports. The Goldman Sachs Group increased their price target on Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Wall Street Zen cut Amkor Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Morgan Stanley increased their target price on Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. UBS Group reissued a “neutral” rating and issued a $80.00 target price on shares of Amkor Technology in a research report on Tuesday, May 26th. Finally, B. Riley Financial boosted their price target on Amkor Technology from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.88.

Amkor Technology Price Performance

Shares of Amkor Technology stock opened at $67.64 on Thursday. The stock has a market cap of $16.77 billion, a P/E ratio of 38.65 and a beta of 2.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The stock’s fifty day moving average is $74.63 and its 200 day moving average is $59.62. Amkor Technology, Inc. has a one year low of $20.59 and a one year high of $96.68.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.10. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.Amkor Technology’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. Sell-side analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were paid a dividend of $0.0835 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. Amkor Technology’s payout ratio is 18.86%.

Insider Activity at Amkor Technology

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $71.63, for a total transaction of $358,150.00. Following the transaction, the executive vice president owned 38,904 shares of the company’s stock, valued at $2,786,693.52. The trade was a 11.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gil C. Tily sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the transaction, the director owned 108,806 shares of the company’s stock, valued at approximately $8,410,703.80. The trade was a 12.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 114,000 shares of company stock worth $8,631,450 in the last quarter. 26.40% of the stock is currently owned by insiders.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.