Hancock Whitney Corp Sells 2,942 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Hancock Whitney Corp cut its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 11.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,233 shares of the semiconductor company’s stock after selling 2,942 shares during the quarter. Hancock Whitney Corp’s holdings in Amkor Technology were worth $717,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMKR. Handelsbanken Fonder AB lifted its position in shares of Amkor Technology by 9.2% during the fourth quarter. Handelsbanken Fonder AB now owns 18,976 shares of the semiconductor company’s stock valued at $631,000 after buying an additional 1,600 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Amkor Technology by 4.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock valued at $46,927,000 after buying an additional 63,104 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Amkor Technology by 169.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 69,543 shares of the semiconductor company’s stock valued at $2,313,000 after buying an additional 43,745 shares during the last quarter. Readystate Asset Management LP purchased a new stake in shares of Amkor Technology during the fourth quarter valued at about $4,694,000. Finally, M&G Plc purchased a new stake in shares of Amkor Technology during the first quarter valued at about $11,435,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMKR shares. B. Riley upped their price objective on shares of Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 20th. The Goldman Sachs Group lifted their price target on Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. initiated coverage on Amkor Technology in a report on Monday, July 1st. They set an “overweight” rating and a $48.00 price target on the stock. DA Davidson raised their price objective on Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Morgan Stanley raised their price objective on Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amkor Technology presently has a consensus rating of “Moderate Buy” and an average target price of $41.14.

Amkor Technology Trading Down 9.2 %

NASDAQ AMKR traded down $3.01 during trading on Thursday, hitting $29.65. The stock had a trading volume of 1,400,751 shares, compared to its average volume of 1,238,226. The company has a market capitalization of $7.29 billion, a PE ratio of 19.57 and a beta of 1.86. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $37.52 and a 200 day moving average price of $33.78. Amkor Technology, Inc. has a twelve month low of $17.58 and a twelve month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. As a group, equities research analysts forecast that Amkor Technology, Inc. will post 1.7 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Tuesday, June 4th were issued a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Tuesday, June 4th. Amkor Technology’s dividend payout ratio is presently 20.39%.

Insider Buying and Selling

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $33.37, for a total transaction of $834,250.00. Following the transaction, the chief executive officer now owns 104,476 shares of the company’s stock, valued at $3,486,364.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gil C. Tily sold 20,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.20, for a total value of $644,000.00. Following the sale, the director now directly owns 129,218 shares in the company, valued at $4,160,819.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $33.37, for a total value of $834,250.00. Following the completion of the sale, the chief executive officer now owns 104,476 shares in the company, valued at $3,486,364.12. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock valued at $2,551,750 over the last quarter. Company 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.