John T. Kim Acquires 441,589 Shares of Amkor Technology, Inc. (NASDAQ:AMKR) Stock

Key Points

• Major shareholder John T. Kim of Amkor Technology purchased 441,589 shares worth approximately $9.65 million, increasing his ownership by 13.19%.
• The company reported earnings of $0.22 per share for the last quarter, exceeding analyst expectations of $0.16, with revenue rising 3.4% year-over-year.
• Amkor Technology's recent quarterly dividend was $0.0827 per share, representing an annualized yield of 1.5% and a payout ratio of 26.83%.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) major shareholder John T. Kim bought 441,589 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $21.85 per share, for a total transaction of $9,648,719.65. Following the completion of the purchase, the insider owned 3,789,479 shares in the company, valued at $82,800,116.15. The trade was a 13.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Amkor Technology Stock Performance

Shares of AMKR stock traded up $0.26 on Friday, hitting $23.13. The company had a trading volume of 2,267,183 shares, compared to its average volume of 2,562,687. 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, Inc. has a twelve month low of $14.03 and a twelve month high of $33.85. The company has a 50-day moving average price of $21.22 and a 200-day moving average price of $20.25. The firm has a market cap of $5.72 billion, a P/E ratio of 18.80 and a beta of 1.85.

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

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were paid a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Thursday, June 5th. Amkor Technology's payout ratio is currently 26.83%.

Hedge Funds Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently modified their holdings of AMKR. Royal Bank of Canada increased its stake in Amkor Technology by 100.6% during the 1st quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock worth $349,000 after buying an additional 3,454,012 shares in the last quarter. SW Investment Management LLC increased its stake in Amkor Technology by 89.3% during the 1st quarter. SW Investment Management LLC now owns 2,650,000 shares of the semiconductor company's stock worth $47,859,000 after buying an additional 1,250,000 shares in the last quarter. UG Investment Advisers Ltd. purchased a new stake in Amkor Technology during the 1st quarter worth approximately $21,057,000. Invesco Ltd. increased its stake in Amkor Technology by 201.4% during the 1st quarter. Invesco Ltd. now owns 1,364,719 shares of the semiconductor company's stock worth $24,647,000 after buying an additional 911,886 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Amkor Technology by 41.8% during the 1st quarter. AQR Capital Management LLC now owns 2,572,313 shares of the semiconductor company's stock worth $45,967,000 after buying an additional 757,956 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMKR. Needham & Company LLC boosted their target price on Amkor Technology from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group began coverage on Amkor Technology in a research report on Thursday, July 10th. They set a "neutral" rating and a $20.00 price target for the company. B. Riley lifted their price target on Amkor Technology from $18.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amkor Technology in a research report on Tuesday, July 29th. Finally, DA Davidson lowered their price target on Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.44.

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.