Millennium Management LLC Purchases 1,064,404 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Millennium Management LLC lifted its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 359.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,360,292 shares of the semiconductor company’s stock after purchasing an additional 1,064,404 shares during the period. Millennium Management LLC owned about 0.55% of Amkor Technology worth $54,439,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in shares of Amkor Technology in the second quarter worth about $31,000. Pineridge Advisors LLC bought a new position in shares of Amkor Technology in the fourth quarter worth about $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Amkor Technology in the second quarter worth about $40,000. Larson Financial Group LLC grew its holdings in shares of 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 last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Amkor Technology in the second quarter worth about $52,000. 42.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMKR shares. Morgan Stanley upped their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. initiated coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price objective for the company. Needham & Company LLC upped their price objective on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. KeyCorp initiated coverage on shares of Amkor Technology in a research note on Friday, September 20th. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, B. Riley upped their price objective on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.75.

Amkor Technology Stock Down 0.9 %

NASDAQ:AMKR opened at $30.60 on Tuesday. Amkor Technology, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $44.86. The stock has a market capitalization of $7.52 billion, a P/E ratio of 20.13 and a beta of 1.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The company’s 50-day simple moving average is $31.81 and its 200-day simple moving average is $33.53.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $0.26 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Amkor Technology, Inc. will post 1.53 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 3rd were issued a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is currently 20.39%.

Insider Buying and Selling

In related news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the completion of the sale, the chief executive officer now owns 128,333 shares of the company’s stock, valued at $5,510,619.02. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

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.