Valley Wealth Managers Inc. Acquires 391,002 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Valley Wealth Managers Inc. lifted its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 115.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 730,701 shares of the semiconductor company’s stock after buying an additional 391,002 shares during the period. Amkor Technology makes up 1.7% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 17th biggest position. Valley Wealth Managers Inc.’s holdings in Amkor Technology were worth $22,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMKR. KBC Group NV grew its holdings in Amkor Technology by 1.2% in the third quarter. KBC Group NV now owns 102,015 shares of the semiconductor company’s stock worth $3,122,000 after purchasing an additional 1,225 shares during the period. Victory Capital Management Inc. grew its position in Amkor Technology by 68.0% in the 3rd quarter. Victory Capital Management Inc. now owns 212,809 shares of the semiconductor company’s stock worth $6,512,000 after purchasing an additional 86,148 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Amkor Technology by 16.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,505 shares of the semiconductor company’s stock valued at $260,000 after purchasing an additional 1,191 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Amkor Technology by 5.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 60,181 shares of the semiconductor company’s stock valued at $1,842,000 after purchasing an additional 3,008 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Amkor Technology by 47.7% in the 3rd quarter. Covestor Ltd now owns 10,263 shares of the semiconductor company’s stock worth $314,000 after acquiring an additional 3,314 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMKR shares. KeyCorp dropped their price objective on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson reduced their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group cut their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Morgan Stanley cut their price target on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, Needham & Company LLC lowered their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.63.

Amkor Technology Stock Performance

Shares of NASDAQ:AMKR traded down $0.30 during midday trading on Friday, hitting $25.72. The stock had a trading volume of 53,657 shares, compared to its average volume of 1,326,516. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $29.30 and a two-hundred day moving average price of $32.94. Amkor Technology, Inc. has a 1 year low of $24.10 and a 1 year high of $44.86. The company has a market capitalization of $6.34 billion, a PE ratio of 17.58 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. The trade was a 50.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Amkor Technology 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.