337,908 Shares in Amkor Technology, Inc. $AMKR Acquired by Styrax Capital LP

Key Points

• Styrax Capital LP disclosed a new stake in Amkor Technology, buying 337,908 shares valued at about $13.34 million. The position represents roughly 1% of the fund’s holdings and 0.14% of Amkor’s shares outstanding.
• Amkor reported a strong quarterly beat, with EPS of $0.33 versus expectations of $0.23 and revenue of $1.68 billion versus $1.63 billion estimated. Revenue rose 27.5% year over year, and analysts now expect full-year EPS of 2.08.
• Despite the earnings strength, Wall Street’s overall view remains cautious: the stock has a consensus Hold rating and average price target of $67.38. Recent insider sales also included transactions by an EVP and a director, while the stock recently traded at $86.55, near its 12-month high.

Styrax Capital LP acquired a new stake in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 337,908 shares of the semiconductor company's stock, valued at approximately $13,341,000. Amkor Technology accounts for about 1.0% of Styrax Capital LP's holdings, making the stock its 16th biggest position. Styrax Capital LP owned 0.14% of Amkor Technology as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Amkor Technology by 91.2% in the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after buying an additional 447 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Amkor Technology by 180.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company's stock valued at $28,000 after buying an additional 440 shares during the period. Root Financial Partners LLC lifted its holdings in shares of Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after buying an additional 262 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Amkor Technology by 61.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock valued at $40,000 after buying an additional 854 shares during the period. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Amkor Technology by 83.5% in the 3rd quarter. FNY Investment Advisers LLC now owns 1,472 shares of the semiconductor company's stock valued at $41,000 after buying an additional 670 shares during the period. Institutional investors and hedge funds own 42.76% of the company's stock.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $86.55 on Wednesday. The company has a market capitalization of $21.45 billion, a P/E ratio of 49.46 and a beta of 2.25. The business's 50 day moving average is $69.54 and its two-hundred day moving average is $54.28. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. Amkor Technology, Inc. has a 12-month low of $19.79 and a 12-month high of $96.68.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.10. The company 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%.Amkor Technology's revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. Analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be 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 is Wednesday, June 3rd. Amkor Technology's payout ratio is 18.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMKR shares. Wall Street Zen cut Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. UBS Group reissued a "neutral" rating and issued a $80.00 price objective on shares of Amkor Technology in a report on Tuesday, May 26th. Morgan Stanley boosted their price objective on Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Needham & Company LLC upped their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Amkor Technology in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.38.

Insider Activity at Amkor Technology

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $71.63, for a total value of $358,150.00. Following the completion of the sale, the executive vice president owned 38,904 shares in the company, valued at approximately $2,786,693.52. This represents a 11.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Winston J. Churchill sold 5,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $78.20, for a total transaction of $391,000.00. Following the completion of the sale, the director owned 28,781 shares of the company's stock, valued at approximately $2,250,674.20. The trade was a 14.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 114,000 shares of company stock worth $8,497,550 in the last quarter. Corporate insiders own 26.40% of the company's stock.

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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