US Bancorp DE Lowers Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

US Bancorp DE cut its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 38.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,795 shares of the semiconductor company’s stock after selling 2,398 shares during the quarter. US Bancorp DE’s holdings in Amkor Technology were worth $116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. 1620 Investment Advisors Inc. purchased a new position in Amkor Technology in the 2nd quarter worth $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Amkor Technology during the second quarter valued at approximately $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. Rothschild Investment LLC bought a new stake in Amkor Technology during the 2nd quarter valued at $52,000. Finally, Headlands Technologies LLC purchased a new stake in Amkor Technology during the 1st quarter valued at $43,000. 42.76% of the stock is currently owned by institutional investors.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR opened at $25.19 on Friday. The company has a market capitalization of $6.21 billion, a P/E ratio of 17.02 and a beta of 1.85. Amkor Technology, Inc. has a 1-year low of $24.10 and a 1-year high of $44.86. The firm’s 50 day simple moving average is $29.23 and its two-hundred day simple moving average is $32.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts expect that Amkor Technology, Inc. will post 1.42 EPS for the current fiscal year.

Amkor Technology Increases Dividend

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

Insider Activity

In other Amkor Technology news, 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 transaction, the director now owns 19,871 shares in the company, valued at $655,146.87. The trade was a 50.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction 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 in the company, valued at approximately $6,458,636.21. This represents a 4.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AMKR. Needham & Company LLC lowered their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group dropped their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Morgan Stanley reduced their target price on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, DA Davidson dropped their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.63.

Amkor Technology Company 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.