1492 Capital Management LLC Sells 20,235 Shares of Amkor Technology, Inc. $AMKR

Key Points

• 1492 Capital Management reduced its Amkor Technology stake by 29.1% in the first quarter, selling 20,235 shares and leaving it with 49,278 shares valued at about $2.22 million.
• Amkor Technology beat quarterly expectations, reporting $0.33 EPS on revenue of $1.68 billion, with revenue up 27.5% year over year. The company also maintained a small dividend, paying $0.0835 per share for a 0.4% yield.
• Insider selling and mixed analyst views have been notable: directors and executives sold shares over the past 90 days, while analysts currently hold a consensus “Hold” rating with an average price target of $69.88.

1492 Capital Management LLC trimmed its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,278 shares of the semiconductor company's stock after selling 20,235 shares during the period. 1492 Capital Management LLC's holdings in Amkor Technology were worth $2,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in Amkor Technology by 180.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 440 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of Amkor Technology by 38.8% during the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 262 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Amkor Technology by 91.2% in the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 447 shares in the last quarter. State of Wyoming purchased a new position in shares of Amkor Technology in the 4th quarter worth approximately $41,000. Finally, Quarry LP bought a new stake in Amkor Technology in the fourth quarter worth $42,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Trading Down 8.1%

Shares of AMKR stock opened at $78.72 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $19.51 billion, a price-to-earnings ratio of 44.98 and a beta of 2.25. The firm has a 50-day moving average price of $74.59 and a 200 day moving average price of $56.80. Amkor Technology, Inc. has a twelve month low of $20.59 and a twelve month high of $96.68.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.23 by $0.10. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. Amkor Technology's revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. Research analysts forecast that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, June 3rd. Amkor Technology's dividend payout ratio is currently 18.86%.

Insider Buying and Selling at Amkor Technology

In related news, Director Gil C. Tily sold 15,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the sale, the director directly owned 108,806 shares of the company's stock, valued at $8,410,703.80. This trade represents a 12.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $86.21, for a total transaction of $431,050.00. Following the completion of the sale, the executive vice president owned 38,904 shares in the company, valued at $3,353,913.84. This represents a 11.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 119,000 shares of company stock worth $8,928,600 over the last 90 days. Company insiders own 26.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMKR shares. Weiss Ratings restated a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. B. Riley Financial raised their price objective on shares of Amkor Technology from $70.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday. UBS Group reaffirmed a "neutral" rating and set a $80.00 target price on shares of Amkor Technology in a research note on Tuesday, May 26th. Melius Research raised shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price target on the stock in a research note on Monday, April 6th. Finally, Morgan Stanley increased their target price on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an "equal weight" 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 company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $69.88.

About Amkor Technology

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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