Principal Financial Group Inc. Buys 611,209 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Principal Financial Group Inc. raised its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 44.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,972,293 shares of the semiconductor company’s stock after acquiring an additional 611,209 shares during the quarter. Principal Financial Group Inc.’s holdings in Amkor Technology were worth $50,665,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D raised its position in shares of Amkor Technology by 37.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 82,742 shares of the semiconductor company’s stock valued at $2,126,000 after acquiring an additional 22,561 shares during the period. New York State Teachers Retirement System raised its position in shares of Amkor Technology by 2.0% in the 4th quarter. New York State Teachers Retirement System now owns 39,718 shares of the semiconductor company’s stock valued at $1,020,000 after acquiring an additional 782 shares during the period. Kingsview Wealth Management LLC acquired a new stake in shares of Amkor Technology in the 4th quarter valued at approximately $2,013,000. Vest Financial LLC raised its position in shares of Amkor Technology by 97.9% in the 4th quarter. Vest Financial LLC now owns 98,000 shares of the semiconductor company’s stock valued at $2,518,000 after acquiring an additional 48,475 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Amkor Technology by 11.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,463 shares of the semiconductor company’s stock valued at $243,000 after acquiring an additional 958 shares during the period. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Amkor Technology Price Performance

Shares of AMKR opened at $23.01 on Friday. The stock has a market capitalization of $5.67 billion, a P/E ratio of 16.09 and a beta of 1.81. Amkor Technology, Inc. has a twelve month low of $21.46 and a twelve month high of $44.86. The company has a 50 day moving average of $25.08 and a 200-day moving average of $27.79. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. B. Riley dropped their target price on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of Amkor Technology in a report on Tuesday, February 11th. Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their target price for the stock from $34.00 to $30.00 in a report on Monday, January 6th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” 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.