Amkor Technology, Inc. $AMKR Holdings Raised by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC dramatically increased its Amkor Technology stake by 1,381.2% in the fourth quarter, ending with 214,876 shares valued at about $8.6 million.
• Amkor Technology reported stronger-than-expected quarterly results, with EPS of $0.33 versus the $0.23 consensus and revenue of $1.68 billion, up 27.5% year over year.
• Despite the earnings beat, the stock was trading down 8.1% at $78.72, while analysts currently rate it a Hold on average with a consensus target price of $69.88.

Hsbc Holdings PLC increased its stake in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 1,381.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,876 shares of the semiconductor company's stock after purchasing an additional 200,369 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of Amkor Technology worth $8,593,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Amkor Technology by 18.4% in the 3rd quarter. AQR Capital Management LLC now owns 4,211,529 shares of the semiconductor company's stock worth $119,607,000 after acquiring an additional 653,489 shares during the period. American Century Companies Inc. increased its stake in shares of Amkor Technology by 0.5% during the third quarter. American Century Companies Inc. now owns 3,835,987 shares of the semiconductor company's stock valued at $108,942,000 after acquiring an additional 17,656 shares during the period. State Street Corp raised its holdings in Amkor Technology by 1.4% during the fourth quarter. State Street Corp now owns 3,473,925 shares of the semiconductor company's stock worth $137,151,000 after purchasing an additional 47,514 shares in the last quarter. First Trust Advisors LP lifted its position in Amkor Technology by 37.4% in the fourth quarter. First Trust Advisors LP now owns 2,722,310 shares of the semiconductor company's stock worth $107,477,000 after purchasing an additional 740,701 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Amkor Technology by 204.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company's stock worth $82,712,000 after purchasing an additional 1,407,109 shares during the period. Institutional investors and hedge funds own 42.76% of the company's stock.

Wall Street Analyst Weigh In

AMKR has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price target on Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Morgan Stanley raised their target price on Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Needham & Company LLC lifted their target price on Amkor Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. UBS Group reiterated a "neutral" rating and issued a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $69.88.

Insider Activity at Amkor Technology

In other news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the stock in a transaction 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 $37,330,008.24. This represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Megan Faust sold 1,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $70.30, for a total value of $70,300.00. Following the completion of the sale, the chief financial officer directly owned 132,138 shares of the company's stock, valued at approximately $9,289,301.40. This trade represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 119,000 shares of company stock worth $8,928,600. Insiders own 26.40% of the company's stock.

Amkor Technology Trading Down 8.1%

NASDAQ:AMKR opened at $78.72 on Friday. The stock has a fifty day simple moving average of $74.59 and a 200 day simple moving average of $56.80. The firm has a market capitalization of $19.51 billion, a price-to-earnings ratio of 44.98 and a beta of 2.25. Amkor Technology, Inc. has a 1-year low of $20.59 and a 1-year high of $96.68. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

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

Amkor Technology Announces Dividend

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

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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