Intech Investment Management LLC Sells 12,074 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Intech Investment Management LLC trimmed its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 55.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,772 shares of the semiconductor company’s stock after selling 12,074 shares during the quarter. Intech Investment Management LLC’s holdings in Amkor Technology were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMKR. 1620 Investment Advisors Inc. bought a new position in Amkor Technology during the second quarter worth $31,000. Capital Performance Advisors LLP bought a new stake in shares of Amkor Technology in the third quarter valued at about $39,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Amkor Technology in the second quarter valued at about $40,000. Larson Financial Group LLC boosted its position 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 valued at $50,000 after acquiring an additional 1,130 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Amkor Technology in the second quarter valued at about $52,000. 42.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMKR. JPMorgan Chase & Co. reduced their target price on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. DA Davidson reduced their target price on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group reduced their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Morgan Stanley reduced their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.29.

Amkor Technology Stock Down 1.6 %

AMKR stock opened at $26.54 on Thursday. The company has a market cap of $6.55 billion, a PE ratio of 17.93 and a beta of 1.84. The business has a 50-day simple moving average of $28.26 and a 200 day simple moving average of $32.37. Amkor Technology, Inc. has a 52 week low of $24.10 and a 52 week 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.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. Sell-side analysts anticipate 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. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.0827 per share. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 4th. This represents a $0.33 annualized dividend and a yield of 1.25%. Amkor Technology’s payout ratio is presently 20.95%.

Insiders Place Their Bets

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 31.40% of the company’s stock.

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.