Covestor Ltd Decreases Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Covestor Ltd decreased its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,605 shares of the semiconductor company’s stock after selling 1,658 shares during the period. Covestor Ltd’s holdings in Amkor Technology were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Amkor Technology during the 4th quarter valued at about $27,000. Jones Financial Companies Lllp boosted its holdings in shares of Amkor Technology by 353.7% in the fourth 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 during the last quarter. Bessemer Group Inc. grew its position in Amkor Technology by 421.0% during the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 1,242 shares during the period. Hurley Capital LLC purchased a new stake in Amkor Technology during the fourth quarter valued at approximately $43,000. Finally, Blue Trust Inc. raised its position in Amkor Technology by 36.9% in 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 period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $15.99 on Friday. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.95 billion, a PE ratio of 11.18 and a beta of 1.88. The stock’s fifty day moving average is $20.14 and its two-hundred day moving average is $24.70. Amkor Technology, Inc. has a 52 week low of $14.03 and a 52 week high of $44.86.

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

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th were issued a $0.0827 dividend. This represents a $0.33 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, March 13th. Amkor Technology’s payout ratio is 23.08%.

Insider Buying and Selling

In related news, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $119,056.41. Following the sale, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. The trade was a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on AMKR. B. Riley reduced their price objective on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Melius cut Amkor Technology from a “buy” rating to a “hold” rating and reduced their price target for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Morgan Stanley cut their price objective on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of Amkor Technology in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.50.

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.