103,407 Shares in Amkor Technology, Inc. $AMKR Acquired by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management opened a new position in Amkor Technology, buying 103,407 shares worth about $4.08 million in the fourth quarter.
• Several other institutional investors also boosted holdings, while insiders sold shares over the past 90 days, including two directors who trimmed positions. Overall, insiders own 26.4% of the stock and institutions own 42.76%.
• Amkor Technology reported better-than-expected quarterly results, with EPS of $0.33 versus $0.23 expected and revenue up 27.5% year over year, and it also declared a quarterly dividend of $0.0835 per share.

Kingsview Wealth Management LLC acquired a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 103,407 shares of the semiconductor company's stock, valued at approximately $4,083,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Amkor Technology by 4.6% in the third quarter. Vanguard Group Inc. now owns 15,779,847 shares of the semiconductor company's stock worth $448,148,000 after buying an additional 687,900 shares during the period. AQR Capital Management LLC boosted its position in shares of Amkor Technology by 18.4% in the third quarter. AQR Capital Management LLC now owns 4,211,529 shares of the semiconductor company's stock worth $119,607,000 after buying an additional 653,489 shares during the period. American Century Companies Inc. boosted its position in shares of Amkor Technology by 0.5% in the third quarter. American Century Companies Inc. now owns 3,835,987 shares of the semiconductor company's stock worth $108,942,000 after buying an additional 17,656 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Amkor Technology by 204.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company's stock valued at $82,712,000 after purchasing an additional 1,407,109 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Amkor Technology by 17.6% in the 3rd quarter. First Trust Advisors LP now owns 1,981,609 shares of the semiconductor company's stock valued at $56,277,000 after purchasing an additional 296,057 shares during the period. Hedge funds and other institutional investors own 42.76% of the company's stock.

Insider Activity at Amkor Technology

In other Amkor Technology news, Director Douglas A. Alexander sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the director owned 29,109 shares in the company, valued at $2,229,167.22. This trade represents a 14.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $74.28, for a total value of $3,714,000.00. Following the transaction, the director owned 502,558 shares in the company, valued at approximately $37,330,008.24. This trade represents a 9.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 113,000 shares of company stock valued at $8,258,950. 26.40% of the stock is owned by company insiders.

Amkor Technology Trading Down 1.4%

Shares of AMKR stock opened at $69.56 on Friday. Amkor Technology, Inc. has a 12 month low of $17.79 and a 12 month high of $79.23. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The business's 50 day moving average is $62.63 and its two-hundred day moving average is $50.57. The company has a market cap of $17.24 billion, a PE ratio of 39.75 and a beta of 2.29.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company posted $0.09 earnings per share. The company's revenue for the quarter was up 27.5% compared to the same quarter last year. Equities analysts predict that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's dividend payout ratio (DPR) is 18.86%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMKR. Wall Street Zen downgraded Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Zacks Research downgraded Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Needham & Company LLC upped their target price on Amkor Technology from $65.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. upped their target price on Amkor Technology from $32.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group upped their target price on Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Amkor Technology has an average rating of "Hold" and an average target price of $67.38.

Amkor Technology Company Profile

Amkor Technology, Inc NASDAQ: AMKR is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.

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