Arrowstreet Capital Limited Partnership Reduces Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Arrowstreet Capital Limited Partnership decreased its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 98.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,026 shares of the semiconductor company’s stock after selling 693,529 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Amkor Technology were worth $360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMKR. Orion Portfolio Solutions LLC boosted its position in Amkor Technology by 27.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,651 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 2,297 shares in the last quarter. Norges Bank bought a new stake in shares of Amkor Technology during the fourth quarter valued at approximately $32,479,000. Robotti Robert grew its stake in Amkor Technology by 0.3% in the fourth quarter. Robotti Robert now owns 215,837 shares of the semiconductor company’s stock worth $5,545,000 after purchasing an additional 705 shares during the period. JPMorgan Chase & Co. raised its holdings in Amkor Technology by 6.4% in the fourth quarter. JPMorgan Chase & Co. now owns 263,998 shares of the semiconductor company’s stock worth $6,782,000 after purchasing an additional 15,865 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Amkor Technology by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock worth $402,414,000 after purchasing an additional 1,092,002 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR opened at $16.54 on Monday. The firm’s 50 day simple moving average is $19.98 and its two-hundred day simple moving average is $24.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. The company has a market capitalization of $4.09 billion, a P/E ratio of 11.57 and a beta of 1.88. Amkor Technology, Inc. has a 1-year low of $14.03 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. Research analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were paid a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 2.00%. Amkor Technology’s payout ratio is 23.08%.

Analysts Set New Price Targets

AMKR has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. B. Riley cut their price objective 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. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and lowered their target price for the company from $34.00 to $30.00 in a report on Monday, January 6th. Melius Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amkor Technology currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the business’s 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. The trade was a 7.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the stock in a transaction dated 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 directly owns 1,388 shares of the company’s stock, valued at $30,105.72. This trade represents a 79.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Amkor Technology Company 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.