AQR Capital Management LLC Sells 680,963 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

AQR Capital Management LLC lessened its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,814,357 shares of the semiconductor company's stock after selling 680,963 shares during the quarter. AQR Capital Management LLC owned about 0.74% of Amkor Technology worth $46,611,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AMKR. SBI Securities Co. Ltd. acquired a new position in Amkor Technology during the fourth quarter worth about $27,000. Jones Financial Companies Lllp increased its stake in shares of Amkor Technology by 353.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 1,160 shares during the last quarter. Bessemer Group Inc. raised its stake in Amkor Technology by 421.0% during the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 1,242 shares during the period. Hurley Capital LLC purchased a new stake in Amkor Technology during the fourth quarter valued at about $43,000. Finally, Blue Trust Inc. lifted its position in Amkor Technology by 36.9% during the fourth quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company's stock valued at $88,000 after buying an additional 922 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.

Analysts Set New Price Targets

AMKR has been the subject of a number of recent research reports. KeyCorp reiterated a "sector weight" rating on shares of Amkor Technology in a research note on Thursday, April 17th. Needham & Company LLC lowered their price objective on shares of Amkor Technology from $34.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lowered their price objective on Amkor Technology from $30.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. DA Davidson cut their price target on Amkor Technology from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, Morgan Stanley reduced their price objective on shares of Amkor Technology from $24.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Amkor Technology currently has an average rating of "Hold" and an average price target of $28.00.

Insiders Place Their Bets

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

Amkor Technology Trading Down 0.2 %

Shares of NASDAQ AMKR traded down $0.03 during mid-day trading on Wednesday, hitting $17.45. 286,499 shares of the company traded hands, compared to its average volume of 1,768,122. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. Amkor Technology, Inc. has a 1 year low of $14.03 and a 1 year high of $44.86. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 12.18 and a beta of 1.86. The business has a 50 day moving average of $18.02 and a two-hundred day moving average of $23.01.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.09 earnings per share 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 for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. Amkor Technology's revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were paid a dividend of $0.0827 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 annualized dividend and a dividend yield of 1.90%. Amkor Technology's dividend payout ratio (DPR) is 25.78%.

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.