KLP Kapitalforvaltning AS Makes New Investment in Amkor Technology, Inc. (NASDAQ:AMKR)

KLP Kapitalforvaltning AS bought a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 22,200 shares of the semiconductor company’s stock, valued at approximately $570,000.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Amkor Technology during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp lifted its stake in Amkor Technology by 353.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 1,160 shares during the period. Blue Trust Inc. raised its position in shares of Amkor Technology by 36.9% in the 4th quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 922 shares in the last quarter. Quarry LP grew its holdings in Amkor Technology by 421.8% in the third quarter. Quarry LP now owns 3,136 shares of the semiconductor company’s stock worth $96,000 after purchasing an additional 2,535 shares during the period. Finally, 1620 Investment Advisors Inc. boosted its stake in Amkor Technology by 24.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 4,768 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 942 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insiders Place Their Bets

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of Amkor Technology stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the sale, the insider now owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. This trade represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $18.63 on Thursday. The company has a market capitalization of $4.60 billion, a P/E ratio of 13.03 and a beta of 1.88. The business’s 50 day moving average is $21.53 and its two-hundred day moving average is $25.49. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Amkor Technology, Inc. has a 12-month low of $17.61 and a 12-month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. Analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, March 13th. Amkor Technology’s dividend payout ratio is presently 23.08%.

Analyst Ratings Changes

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

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.