Ceredex Value Advisors LLC Acquires Shares of 1,392,500 Amkor Technology, Inc. (NASDAQ:AMKR)

Ceredex Value Advisors LLC bought a new position in Amkor Technology, Inc. (NASDAQ:AMKR) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,392,500 shares of the semiconductor company’s stock, valued at approximately $42,610,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new stake in Amkor Technology during the 2nd quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Amkor Technology during the second quarter valued at approximately $40,000. Larson Financial Group LLC grew its stake 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 worth $50,000 after purchasing an additional 1,130 shares during the period. Rothschild Investment LLC purchased a new stake in Amkor Technology in the second quarter worth $52,000. Finally, Headlands Technologies LLC bought a new position in Amkor Technology in the first quarter worth $43,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Trading Up 2.2 %

Shares of NASDAQ:AMKR opened at $26.00 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.83. Amkor Technology, Inc. has a 1 year low of $21.92 and a 1 year high of $44.86. The company has a market cap of $6.41 billion, a P/E ratio of 17.57 and a beta of 1.84. The stock’s fifty day moving average price is $30.21 and its 200-day moving average price is $33.13.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the business earned $0.54 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts expect that Amkor Technology, Inc. will post 1.42 earnings per share for the current year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.22%. Amkor Technology’s dividend payout ratio is presently 20.95%.

Insider Activity

In related news, 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 transaction of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMKR shares. Morgan Stanley reduced their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group cut their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday. KeyCorp lowered their target price on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday. DA Davidson cut their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amkor Technology has an average rating of “Moderate Buy” and a consensus price target of $35.63.

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.