Amalgamated Bank Purchases 1,270 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Amalgamated Bank boosted its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,072 shares of the semiconductor company’s stock after purchasing an additional 1,270 shares during the period. Amalgamated Bank’s holdings in Amkor Technology were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Louisiana State Employees Retirement System lifted its position in shares of Amkor Technology by 7.5% during the third quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the semiconductor company’s stock worth $961,000 after purchasing an additional 2,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Amkor Technology by 253.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,281 shares of the semiconductor company’s stock valued at $559,000 after acquiring an additional 13,111 shares in the last quarter. Principal Financial Group Inc. grew its stake in Amkor Technology by 212.6% in the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock worth $41,647,000 after purchasing an additional 925,644 shares in the last quarter. General American Investors Co. Inc. purchased a new position in Amkor Technology during the 3rd quarter worth $3,060,000. Finally, Summit Global Investments lifted its holdings in shares of Amkor Technology by 27.7% in the 3rd quarter. Summit Global Investments now owns 47,353 shares of the semiconductor company’s stock worth $1,449,000 after buying an additional 10,275 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their price objective for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of Amkor Technology in a report on Tuesday, February 11th. Morgan Stanley reduced their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. B. Riley dropped their price objective on Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.50.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $20.27 on Tuesday. The firm has a market capitalization of $5.00 billion, a P/E ratio of 14.17 and a beta of 1.81. Amkor Technology, Inc. has a 52 week low of $20.11 and a 52 week high of $44.86. 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 50 day moving average price of $24.44 and a 200 day moving average price of $27.30.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 EPS 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%. Sell-side analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be issued a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology’s dividend payout ratio is presently 23.08%.

Insider Transactions at Amkor Technology

In other news, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the sale, the insider now owns 10,020,870 shares in the company, valued at $218,956,009.50. This represents a 7.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the transaction, the executive vice president now owns 1,388 shares of the company’s stock, valued at $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

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.