Bessemer Group Inc. Increases Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Bessemer Group Inc. boosted its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 421.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,537 shares of the semiconductor company’s stock after buying an additional 1,242 shares during the quarter. Bessemer Group Inc.’s holdings in Amkor Technology were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Amkor Technology in the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp boosted its position in shares of Amkor Technology by 353.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after buying an additional 1,160 shares in the last quarter. Hurley Capital LLC acquired a new stake in Amkor Technology in the 4th quarter valued at about $43,000. Blue Trust Inc. raised its position in Amkor Technology by 36.9% during the fourth quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 922 shares during the last quarter. Finally, 1620 Investment Advisors Inc. lifted its holdings in shares of Amkor Technology by 24.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 4,768 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 942 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Agnes C. Kim sold 869,565 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the transaction, the insider now directly owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. The trade was a 7.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMKR. JPMorgan Chase & Co. cut their price objective on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. KeyCorp reaffirmed a “sector weight” rating on shares of Amkor Technology in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of Amkor Technology in a report on Tuesday, February 11th. B. Riley cut their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Morgan Stanley decreased their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Amkor Technology currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $15.97 on Friday. Amkor Technology, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $44.86. The firm’s 50 day moving average is $19.34 and its two-hundred day moving average is $24.25. The company has a market cap of $3.95 billion, a P/E ratio of 11.17 and a beta of 1.88. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. Analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were given a dividend of $0.0827 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a yield of 2.07%. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

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.