Royce & Associates LP Reduces Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Royce & Associates LP decreased its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 9.2% during the third quarter, Holdings Channel.com reports. The fund owned 392,750 shares of the semiconductor company’s stock after selling 39,848 shares during the period. Royce & Associates LP’s holdings in Amkor Technology were worth $12,018,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. 1620 Investment Advisors Inc. purchased a new stake in Amkor Technology in the second quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new position in Amkor Technology in the third quarter valued at approximately $39,000. Ashton Thomas Private Wealth LLC acquired a new position in Amkor Technology in the second quarter valued at approximately $40,000. Headlands Technologies LLC acquired a new position in Amkor Technology in the first quarter valued at approximately $43,000. Finally, Larson Financial Group LLC lifted its holdings in Amkor Technology by 911.3% in the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 1,130 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Price Performance

AMKR stock opened at $25.19 on Friday. The business has a 50 day moving average price of $29.23 and a 200 day moving average price of $32.90. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 17.02 and a beta of 1.85. Amkor Technology, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $44.86. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21.

Amkor Technology (NASDAQ:AMKR) last released 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). The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. Equities research analysts anticipate that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th will be issued a $0.0827 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is presently 22.30%.

Insider Activity

In related news, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the transaction, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This represents a 50.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. This represents a 4.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. DA Davidson reduced their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group reduced their target price on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC dropped their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Amkor Technology has an average rating of “Moderate Buy” and a consensus target price of $36.29.

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.