Amkor Technology, Inc. (NASDAQ:AMKR) Major Shareholder Acquires $9,648,719.65 in Stock

Key Points

• Major shareholder Sujoda Management, LLC acquired $9.6 million worth of Amkor Technology (NASDAQ: AMKR) stock, increasing their ownership by 13.19%.
• Amkor reported $0.22 earnings per share for the latest quarter, exceeding analysts' estimates and showing a 3.4% year-over-year revenue increase.
• The company recently declared a quarterly dividend of $0.0827, with an annualized yield of 1.5%.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) major shareholder Sujoda Management, Llc purchased 441,589 shares of the business's stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $21.85 per share, with a total value of $9,648,719.65. Following the acquisition, the insider directly owned 3,789,479 shares in the company, valued at approximately $82,800,116.15. This represents a 13.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Amkor Technology Stock Down 0.8%

Shares of AMKR traded down $0.18 during mid-day trading on Tuesday, reaching $22.17. 1,836,006 shares of the stock traded hands, compared to its average volume of 2,160,300. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 18.02 and a beta of 1.85. The stock has a fifty day simple moving average of $20.90 and a 200 day simple moving average of $20.27. Amkor Technology, Inc. has a 12-month low of $14.03 and a 12-month high of $33.85. The company has a quick ratio of 1.70, a current ratio of 1.89 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. Amkor Technology had a net margin of 4.80% and a return on equity of 7.23%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Sell-side analysts expect that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were issued a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.33 annualized dividend and a yield of 1.5%. Amkor Technology's dividend payout ratio is currently 26.83%.

Institutional Trading of Amkor Technology

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new stake in Amkor Technology during the first quarter valued at $27,000. Hantz Financial Services Inc. boosted its holdings in shares of Amkor Technology by 1,050.4% during the second quarter. Hantz Financial Services Inc. now owns 1,369 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 1,250 shares during the period. UMB Bank n.a. boosted its holdings in shares of Amkor Technology by 677.0% during the first quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 1,530 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Amkor Technology by 416.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,602 shares of the semiconductor company's stock valued at $34,000 after acquiring an additional 1,292 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Amkor Technology by 166.3% during the first quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 1,357 shares during the period. 42.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMKR shares. KeyCorp reiterated a "sector weight" rating on shares of Amkor Technology in a report on Thursday, April 17th. UBS Group increased their price target on shares of Amkor Technology from $23.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. DA Davidson cut their price target on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Morgan Stanley reissued an "equal weight" rating on shares of Amkor Technology in a research note on Tuesday, July 29th. Finally, B. Riley increased their price target on shares of Amkor Technology from $18.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Amkor Technology presently has an average rating of "Hold" and an average price target of $26.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.