357,333 Shares in Amkor Technology, Inc. (NASDAQ:AMKR) Purchased by M&G Plc

M&G Plc bought a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 357,333 shares of the semiconductor company’s stock, valued at approximately $11,435,000. M&G Plc owned approximately 0.15% of Amkor Technology as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its holdings in Amkor Technology by 1,324.6% during the fourth quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 755 shares in the last quarter. Pineridge Advisors LLC bought a new stake in Amkor Technology in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp raised its stake in Amkor Technology by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 347 shares during the period. Parkside Financial Bank & Trust raised its stake in Amkor Technology by 1,414.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 806 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Amkor Technology in the first quarter valued at approximately $43,000. Institutional investors own 42.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley upped 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a research report on Tuesday, April 30th. The Goldman Sachs Group upped their target price on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. started coverage on Amkor Technology in a research report on Monday, July 1st. They issued an “overweight” rating and a $48.00 target price on the stock. Finally, B. Riley upped their target price on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.43.

Amkor Technology Price Performance

Shares of AMKR stock traded down $1.64 during trading hours on Friday, reaching $39.77. The company’s stock had a trading volume of 1,323,038 shares, compared to its average volume of 2,356,551. The firm’s 50 day simple moving average is $36.83 and its 200-day simple moving average is $33.40. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 26.16 and a beta of 1.86. Amkor Technology, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $44.86. The company has a quick ratio of 2.08, a current ratio of 2.34 and a debt-to-equity ratio of 0.26.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Sell-side analysts forecast that Amkor Technology, Inc. will post 1.76 earnings per share for the current year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Tuesday, June 4th were paid a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Tuesday, June 4th. Amkor Technology’s payout ratio is 20.39%.

Insider Activity

In other news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the completion of the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the completion of the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the 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 completion of the transaction, the chief executive officer now owns 128,333 shares of the company’s stock, valued at $5,510,619.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,000 shares of company stock worth $2,708,250. Insiders own 31.40% of the company’s stock.

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.