Oppenheimer Asset Management Inc. Increases Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Oppenheimer Asset Management Inc. boosted its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 10.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,781 shares of the semiconductor company’s stock after buying an additional 3,768 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Amkor Technology were worth $1,552,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Amkor Technology in the 4th quarter worth about $39,224,000. Vanguard Group Inc. increased its stake in shares of Amkor Technology by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock valued at $490,965,000 after purchasing an additional 959,838 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Amkor Technology by 54.4% during the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock valued at $66,966,000 after purchasing an additional 589,530 shares during the last quarter. M&G Plc bought a new stake in shares of Amkor Technology in the 1st quarter worth approximately $11,435,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Amkor Technology in the 2nd quarter worth approximately $13,595,000. 42.76% of the stock is owned by institutional investors.

Amkor Technology Price Performance

AMKR opened at $30.24 on Thursday. The company’s 50-day simple moving average is $33.81 and its two-hundred day simple moving average is $33.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The stock has a market capitalization of $7.43 billion, a P/E ratio of 20.11 and a beta of 1.85. Amkor Technology, Inc. has a 52-week low of $17.58 and a 52-week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts predict that Amkor Technology, Inc. will post 1.53 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd will be given a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Tuesday, September 3rd. Amkor Technology’s dividend payout ratio (DPR) is presently 20.39%.

Insider Activity at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the completion of the sale, the chief executive officer now directly owns 128,333 shares in the company, valued at approximately $5,510,619.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on Monday, July 15th. The shares were sold at an average price of $42.94, for a total value of $1,073,500.00. Following the transaction, the chief executive officer now owns 128,333 shares in the company, valued at $5,510,619.02. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMKR. Morgan Stanley lifted their price objective on Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. assumed coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price target on the stock. B. Riley raised their price objective on shares of Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Needham & Company LLC upped their target price on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.14.

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.