Martingale Asset Management L P Sells 13,213 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Martingale Asset Management L P trimmed its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 30.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,573 shares of the semiconductor company’s stock after selling 13,213 shares during the quarter. Martingale Asset Management L P’s holdings in Amkor Technology were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMKR. Pacer Advisors Inc. grew its position 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 period. Earnest Partners LLC lifted its position in Amkor Technology by 3.2% during the second quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock valued at $96,979,000 after purchasing an additional 75,364 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amkor Technology by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company’s stock valued at $57,495,000 after purchasing an additional 88,226 shares during the period. American Century Companies Inc. increased its position in Amkor Technology by 54.4% in the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after buying an additional 589,530 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Amkor Technology by 35.7% in the third quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company’s stock worth $47,595,000 after buying an additional 409,241 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Stock Up 3.2 %

Shares of AMKR opened at $27.28 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 18.43 and a beta of 1.85. Amkor Technology, Inc. has a 1 year low of $24.10 and a 1 year high of $44.86. The business’s 50 day simple moving average is $28.41 and its 200-day simple moving average is $32.45.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company earned $0.54 EPS. Amkor Technology’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th will be issued a $0.0827 dividend. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.21%. Amkor Technology’s payout ratio is 22.30%.

Insider Activity

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 31.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AMKR. Morgan Stanley reduced their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Needham & Company LLC lowered their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lowered their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.29.

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.