Convergence Investment Partners LLC Takes Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Convergence Investment Partners LLC bought a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 51,565 shares of the semiconductor company’s stock, valued at approximately $635,000.

Other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in shares of Amkor Technology during the second quarter valued at about $41,000. Cigna Investments Inc. New acquired a new stake in shares of Amkor Technology during the first quarter valued at about $85,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Amkor Technology by 24.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,540 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 2,239 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Amkor Technology during the first quarter valued at about $108,000. Finally, First Command Bank acquired a new stake in shares of Amkor Technology during the second quarter valued at about $117,000. Institutional investors own 37.72% of the company’s stock.

Shares of Amkor Technology stock traded down $0.57 on Friday, hitting $13.60. 1,472,132 shares of the company traded hands, compared to its average volume of 1,452,410. The company has a 50-day moving average price of $12.23 and a 200 day moving average price of $10.79. The company has a quick ratio of 1.83, a current ratio of 2.06 and a debt-to-equity ratio of 0.71. Amkor Technology, Inc. has a 12-month low of $5.40 and a 12-month high of $15.80. The company has a market cap of $3.28 billion, a PE ratio of 12.03 and a beta of 1.72.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.25. Amkor Technology had a net margin of 5.94% and a return on equity of 13.77%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company posted ($0.04) EPS. Amkor Technology’s revenue was up 31.0% on a year-over-year basis. Equities research analysts anticipate that Amkor Technology, Inc. will post 1 EPS for the current year.

In related news, EVP Guillaume Marie Jean Rutten sold 7,838 shares of Amkor Technology stock in a transaction on Friday, June 5th. The shares were sold at an average price of $12.85, for a total value of $100,718.30. Following the completion of the sale, the executive vice president now owns 7,838 shares of the company’s stock, valued at approximately $100,718.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Megan Faust sold 50,000 shares of Amkor Technology stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $15.40, for a total transaction of $770,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,219 shares of the company’s stock, valued at approximately $881,172.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,338 shares of company stock worth $1,031,053. 59.30% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on AMKR. Citigroup decreased their price target on Amkor Technology from $12.00 to $9.20 and set a “sell” rating for the company in a research note on Wednesday, April 29th. reiterated a “sell” rating on shares of Amkor Technology in a research note on Tuesday, June 9th. Deutsche Bank lifted their price target on Amkor Technology from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Tuesday, April 28th. Zacks Investment Research upgraded Amkor Technology from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Wednesday. Finally, Sidoti lifted their price target on Amkor Technology from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.94.

About Amkor Technology

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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Institutional Ownership by Quarter for Amkor Technology (NASDAQ:AMKR)

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