Convergence Investment Partners LLC Acquires New Position in Amkor Technology, Inc. $AMKR

Convergence Investment Partners LLC acquired a new stake in Amkor Technology, Inc. (NASDAQ:AMKR) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 62,207 shares of the semiconductor company’s stock, valued at approximately $2,801,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its holdings in shares of Amkor Technology by 91.2% during the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 447 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Amkor Technology by 180.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 440 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of Amkor Technology by 38.8% during the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 262 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 854 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Amkor Technology during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Down 0.6%

AMKR stock opened at $62.56 on Tuesday. Amkor Technology, Inc. has a twelve month low of $20.86 and a twelve month high of $96.68. The company has a market cap of $15.51 billion, a PE ratio of 35.75 and a beta of 2.20. The business’s 50-day simple moving average is $73.89 and its 200 day simple moving average is $60.09. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

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

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were given 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 currently 18.86%.

Insider Buying and Selling at Amkor Technology

In related news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $74.28, for a total value of $3,714,000.00. Following the completion of the transaction, the director directly owned 502,558 shares in the company, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Winston J. Churchill sold 5,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $78.20, for a total value of $391,000.00. Following the completion of the transaction, the director directly owned 28,781 shares of the company’s stock, valued at approximately $2,250,674.20. This trade represents a 14.80% 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 valued at $8,631,450 in the last quarter. 26.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMKR. B. Riley Financial boosted their target price on Amkor Technology from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. UBS Group reaffirmed a “neutral” rating and set a $80.00 price target on shares of Amkor Technology in a research note on Tuesday, May 26th. The Goldman Sachs Group lifted 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. Morgan Stanley boosted their price target on Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Melius Research upgraded Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Amkor Technology has a consensus rating of “Hold” and a consensus price target of $69.88.

Amkor Technology Company Profile

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.