Fmr LLC Acquires 409,241 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Fmr LLC lifted its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 35.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,555,392 shares of the semiconductor company’s stock after buying an additional 409,241 shares during the quarter. Fmr LLC owned about 0.63% of Amkor Technology worth $47,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Amkor Technology by 24,383.3% in the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after acquiring an additional 3,772,095 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Amkor Technology by 3.2% during the second quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock valued at $96,979,000 after purchasing an additional 75,364 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amkor Technology by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company’s stock valued at $57,495,000 after purchasing an additional 88,226 shares in the last quarter. American Century Companies Inc. raised its position in Amkor Technology by 54.4% in the 2nd quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after purchasing an additional 589,530 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Amkor Technology during the 2nd quarter worth $58,379,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $26.28 on Friday. The stock has a market cap of $6.48 billion, a PE ratio of 17.76 and a beta of 1.84. The stock has a 50-day moving average of $27.97 and a 200-day moving average of $32.24. 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, Inc. has a one year low of $24.10 and a one year high of $44.86.

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 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 firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Amkor Technology, Inc. will post 1.42 earnings per share for the current 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 $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.26%. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. Amkor Technology’s payout ratio is presently 22.30%.

Insiders Place Their Bets

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 31.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective 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. DA Davidson cut 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 report on Tuesday, October 29th. Needham & Company LLC lowered their price target on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, KeyCorp cut their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.29.

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.