Amkor Technology, Inc. (NASDAQ:AMKR) Stake Lifted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 41.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,000 shares of the semiconductor company’s stock after buying an additional 80,000 shares during the quarter. Harvest Fund Management Co. Ltd owned about 0.11% of Amkor Technology worth $7,036,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its holdings in shares of Amkor Technology by 5.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 60,181 shares of the semiconductor company’s stock valued at $1,842,000 after buying an additional 3,008 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Amkor Technology by 16.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,505 shares of the semiconductor company’s stock valued at $260,000 after buying an additional 1,191 shares during the period. Victory Capital Management Inc. raised its position in Amkor Technology by 68.0% during the third quarter. Victory Capital Management Inc. now owns 212,809 shares of the semiconductor company’s stock valued at $6,512,000 after buying an additional 86,148 shares during the period. Mutual of America Capital Management LLC raised its position in Amkor Technology by 3.5% during the third quarter. Mutual of America Capital Management LLC now owns 61,253 shares of the semiconductor company’s stock valued at $1,874,000 after buying an additional 2,055 shares during the period. Finally, Whalen Wealth Management Inc. raised its position in Amkor Technology by 8.5% during the third quarter. Whalen Wealth Management Inc. now owns 15,808 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Stock Performance

AMKR opened at $19.55 on Wednesday. The company has a market cap of $4.82 billion, a PE ratio of 13.67 and a beta of 1.88. The stock has a 50-day moving average of $23.03 and a 200-day moving average of $26.30. Amkor Technology, Inc. has a 52-week low of $18.87 and a 52-week high of $44.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. As a group, equities research analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be paid a dividend of $0.0827 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 1.69%. Amkor Technology’s payout ratio is 23.08%.

Insider Activity at Amkor Technology

In related news, EVP Kevin Engel sold 5,489 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $218,956,009.50. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. B. Riley dropped their price target 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. JPMorgan Chase & Co. dropped their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Melius Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Morgan Stanley dropped their target price on 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of Amkor Technology in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Amkor Technology currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

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.