Cornercap Investment Counsel Inc. Invests $275,000 in Amkor Technology, Inc. (NASDAQ:AMKR)

Cornercap Investment Counsel Inc. acquired a new position in Amkor Technology, Inc. (NASDAQ:AMKR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,255 shares of the semiconductor company’s stock, valued at approximately $275,000.

A number of other large investors have also added to or reduced their stakes in AMKR. Allworth Financial LP grew its holdings in Amkor Technology by 1,324.6% during the 4th quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 755 shares in the last quarter. Fifth Third Bancorp grew its holdings in Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 347 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Amkor Technology during the 1st quarter valued at $38,000. Blue Trust Inc. grew its holdings in Amkor Technology by 57.0% during the 4th quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 540 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in Amkor Technology during the 1st quarter valued at $52,000. 42.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMKR shares. Fox Advisors initiated coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating for the company. Needham & Company LLC initiated coverage on shares of Amkor Technology in a research note on Tuesday, April 9th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Amkor Technology in a research note on Thursday, February 29th. They set a “neutral” rating and a $32.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

Amkor Technology Trading Down 3.6 %

Amkor Technology stock opened at $30.10 on Thursday. The firm’s 50-day moving average is $31.72 and its 200-day moving average is $29.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. Amkor Technology, Inc. has a 1 year low of $17.58 and a 1 year high of $37.00. The company has a market cap of $7.40 billion, a P/E ratio of 20.62 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted $0.67 EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts expect that Amkor Technology, Inc. will post 1.63 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were given a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.05%. Amkor Technology’s payout ratio is currently 21.23%.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.23, for a total value of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares of the company’s stock, valued at approximately $3,887,385.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.23, for a total value of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares of the company’s stock, valued at approximately $3,887,385.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,200 shares of company stock worth $1,801,870. 53.30% of the stock is currently owned by insiders.

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.