Janney Montgomery Scott LLC Lowers Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Janney Montgomery Scott LLC decreased its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 23.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,469 shares of the semiconductor company’s stock after selling 9,820 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Amkor Technology were worth $994,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMKR. 1620 Investment Advisors Inc. purchased a new position in shares of Amkor Technology during the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Amkor Technology during the 2nd quarter valued at $40,000. Headlands Technologies LLC purchased a new position in shares of Amkor Technology during the 1st quarter valued at $43,000. Larson Financial Group LLC lifted its stake in shares of Amkor Technology by 911.3% during the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,130 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Amkor Technology during the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insider Activity at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value 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 $6,458,636.21. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This trade represents a 50.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMKR. DA Davidson lowered their target price on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their price target on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC reduced their price target on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group reduced their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.63.

Amkor Technology Stock Performance

Amkor Technology stock opened at $25.19 on Friday. The company’s 50-day moving average price is $29.23 and its 200-day moving average price is $32.89. Amkor Technology, Inc. has a twelve month low of $24.10 and a twelve month high of $44.86. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. The company has a market cap of $6.21 billion, a PE ratio of 17.02 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Amkor Technology, Inc. will post 1.42 EPS for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, December 4th will be issued a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a yield of 1.31%. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. Amkor Technology’s dividend payout ratio is presently 20.95%.

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.