Proficio Capital Partners LLC Takes Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Proficio Capital Partners LLC acquired a new stake in Amkor Technology, Inc. (NASDAQ:AMKR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,074 shares of the semiconductor company’s stock, valued at approximately $310,000.

Several other large investors also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D increased its position in Amkor Technology by 5.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 60,181 shares of the semiconductor company’s stock worth $1,842,000 after acquiring an additional 3,008 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Amkor Technology by 16.3% in 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 in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Amkor Technology by 68.0% in the 3rd quarter. Victory Capital Management Inc. now owns 212,809 shares of the semiconductor company’s stock valued at $6,512,000 after purchasing an additional 86,148 shares in the last quarter. KBC Group NV boosted its stake in shares of Amkor Technology by 1.2% in the 3rd quarter. KBC Group NV now owns 102,015 shares of the semiconductor company’s stock valued at $3,122,000 after purchasing an additional 1,225 shares in the last quarter. Finally, Valley Wealth Managers Inc. boosted its stake in shares of Amkor Technology by 115.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock valued at $22,359,000 after purchasing an additional 391,002 shares in the last quarter. 42.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMKR. B. Riley reduced their price target on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price target on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their price target for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price on shares of Amkor Technology in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.50.

Insider Activity at Amkor Technology

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the transaction, the insider now directly owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by company insiders.

Amkor Technology Trading Down 3.0 %

Shares of AMKR opened at $19.23 on Wednesday. The firm’s 50 day simple moving average is $23.72 and its 200 day simple moving average is $26.77. The company has a market capitalization of $4.74 billion, a P/E ratio of 13.45 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. Amkor Technology, Inc. has a 1-year low of $19.01 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates 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 forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be issued a $0.0827 dividend. This represents a $0.33 annualized dividend and a yield of 1.72%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is currently 23.08%.

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.