Victory Capital Management Inc. Decreases Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Victory Capital Management Inc. trimmed its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 75.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,102 shares of the semiconductor company’s stock after selling 159,707 shares during the period. Victory Capital Management Inc.’s holdings in Amkor Technology were worth $1,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMKR. Pacer Advisors Inc. increased its stake in shares of Amkor Technology by 24,383.3% during the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after acquiring an additional 3,772,095 shares during the last quarter. Wellington Management Group LLP grew its position in Amkor Technology by 522.0% in the third quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock valued at $34,704,000 after acquiring an additional 951,764 shares in the last quarter. Principal Financial Group Inc. grew its position in Amkor Technology by 212.6% in the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after acquiring an additional 925,644 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Amkor Technology by 205.1% during the 4th quarter. Fisher Asset Management LLC now owns 641,916 shares of the semiconductor company’s stock valued at $16,491,000 after buying an additional 431,537 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Amkor Technology by 35.7% during the 3rd quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company’s stock valued at $47,595,000 after buying an additional 409,241 shares during the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Morgan Stanley cut their target price on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price target on shares of Amkor Technology in a report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, B. Riley lowered their target price on Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Amkor Technology Trading Down 0.2 %

NASDAQ:AMKR opened at $19.55 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. Amkor Technology, Inc. has a 1-year low of $18.87 and a 1-year high of $44.86. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 13.67 and a beta of 1.88. The stock has a fifty day simple moving average of $23.03 and a 200 day simple moving average of $26.30.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. Sell-side analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current year.

Amkor Technology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.0827 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a yield of 1.69%. Amkor Technology’s payout ratio is presently 23.08%.

Insiders Place Their Bets

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the sale, the executive vice president now directly owns 1,388 shares in the company, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the sale, the insider now owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

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.