1492 Capital Management LLC Sells 50,827 Shares of Amkor Technology, Inc. $AMKR

Key Points

• 1492 Capital Management cut its Amkor Technology stake by 42.2% in the fourth quarter, selling 50,827 shares and leaving it with 69,513 shares valued at about $2.74 million.
• Insider selling has also been notable, with directors Douglas A. Alexander and Guillaume Marie Jean Rutten selling shares recently; insiders sold a total of 113,000 shares worth about $8.26 million over the last three months.
• Amkor reported strong quarterly results, posting EPS of $0.33 versus the $0.23 estimate and revenue of $1.68 billion, while analysts currently rate the stock a consensus Hold with an average price target of $67.38.

1492 Capital Management LLC lessened its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 42.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,513 shares of the semiconductor company's stock after selling 50,827 shares during the quarter. 1492 Capital Management LLC's holdings in Amkor Technology were worth $2,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMKR. Bessemer Group Inc. lifted its stake in Amkor Technology by 72.1% in the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 391 shares in the last quarter. IFP Advisors Inc grew its position in shares of Amkor Technology by 91.2% during 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. Root Financial Partners LLC increased its holdings in shares of Amkor Technology by 38.8% in the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock worth $37,000 after purchasing an additional 262 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Amkor Technology by 61.8% in the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 854 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its position in shares of Amkor Technology by 83.5% in the third quarter. FNY Investment Advisers LLC now owns 1,472 shares of the semiconductor company's stock worth $41,000 after buying an additional 670 shares in the last quarter. Institutional investors own 42.76% of the company's stock.

Insider Activity at Amkor Technology

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMKR. Weiss Ratings reissued a "hold (c)" rating on shares of Amkor Technology in a research note on Monday, April 20th. UBS Group reaffirmed a "neutral" rating and set a $80.00 price objective on shares of Amkor Technology in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised their target price on shares of Amkor Technology from $32.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 10th. The Goldman Sachs Group boosted their price target on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Finally, 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. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Amkor Technology currently has a consensus rating of "Hold" and an average price target of $67.38.

Amkor Technology Price Performance

NASDAQ:AMKR opened at $75.20 on Thursday. The firm has a market capitalization of $18.64 billion, a price-to-earnings ratio of 42.97 and a beta of 2.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The business has a 50 day simple moving average of $64.28 and a 200-day simple moving average of $51.54. Amkor Technology, Inc. has a 1 year low of $18.65 and a 1 year high of $79.50.

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

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors 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 0.4%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's dividend payout ratio is presently 18.86%.

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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