Bridgeway Capital Management LLC Cuts Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Bridgeway Capital Management LLC decreased its holdings in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 36.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,600 shares of the semiconductor company's stock after selling 46,750 shares during the period. Bridgeway Capital Management LLC's holdings in Amkor Technology were worth $2,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AMKR. Covea Finance boosted its stake in shares of Amkor Technology by 47.1% during the fourth quarter. Covea Finance now owns 62,500 shares of the semiconductor company's stock valued at $1,606,000 after purchasing an additional 20,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Amkor Technology by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company's stock worth $54,209,000 after buying an additional 15,211 shares during the period. Raymond James Financial Inc. bought a new stake in Amkor Technology during the 4th quarter valued at $5,666,000. Blue Trust Inc. increased its holdings in shares of Amkor Technology by 36.9% in the 4th quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 922 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company's stock worth $41,647,000 after purchasing an additional 925,644 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR traded down $0.09 during midday trading on Thursday, hitting $20.00. The company's stock had a trading volume of 514,164 shares, compared to its average volume of 1,797,467. Amkor Technology, Inc. has a 12-month low of $14.03 and a 12-month high of $44.86. The company has a market cap of $4.94 billion, a P/E ratio of 13.98 and a beta of 1.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The business's 50 day simple moving average is $17.82 and its 200 day simple moving average is $22.61.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business earned $0.24 earnings per share. The business's revenue was down 3.2% compared to the same quarter last year. On average, analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were issued a $0.0827 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 1.65%. Amkor Technology's payout ratio is 25.78%.

Insider Activity

In other news, EVP Kevin Engel sold 5,489 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the sale, the executive vice president now directly owns 1,388 shares of the company's stock, valued at approximately $30,105.72. The trade was a 79.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This represents a 7.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMKR. Needham & Company LLC cut their price objective on shares of Amkor Technology from $34.00 to $22.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley lowered their price target on shares of Amkor Technology from $24.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. DA Davidson lowered their price target on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. B. Riley lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered their price target on Amkor Technology from $30.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Amkor Technology presently has an average rating of "Hold" and a consensus price target of $28.00.

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.