Amkor Technology, Inc. $AMKR Shares Bought by AI Squared Management Ltd

Key Points

• AI Squared Management Ltd boosted its Amkor Technology stake by 51.5% in the fourth quarter, adding 33,400 shares to bring its total to 98,200 shares worth about $3.88 million.
• Amkor Technology’s latest quarterly results beat expectations, with EPS of $0.33 versus $0.23 expected and revenue of $1.68 billion versus $1.63 billion forecast, while revenue rose 27.5% year over year.
• Analysts remain mixed on AMKR: the stock has a consensus Hold rating with an average price target of $67.38, even as some firms raised their targets and the shares recently traded up to $76.15.

AI Squared Management Ltd lifted its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 51.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 98,200 shares of the semiconductor company's stock after buying an additional 33,400 shares during the quarter. Amkor Technology comprises about 4.5% of AI Squared Management Ltd's portfolio, making the stock its 9th largest holding. AI Squared Management Ltd's holdings in Amkor Technology were worth $3,877,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. O Shaughnessy Asset Management LLC increased its position in Amkor Technology by 2.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,799 shares of the semiconductor company's stock worth $387,000 after purchasing an additional 202 shares in the last quarter. Root Financial Partners LLC increased its position in Amkor Technology by 38.8% during the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock worth $37,000 after purchasing an additional 262 shares in the last quarter. Signaturefd LLC increased its position in Amkor Technology by 11.3% during the 4th quarter. Signaturefd LLC now owns 2,644 shares of the semiconductor company's stock worth $104,000 after purchasing an additional 269 shares in the last quarter. Meeder Advisory Services Inc. increased its position in Amkor Technology by 2.1% during the 4th quarter. Meeder Advisory Services Inc. now owns 14,522 shares of the semiconductor company's stock worth $573,000 after purchasing an additional 302 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in Amkor Technology by 72.1% during 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. Institutional investors and hedge funds own 42.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMKR shares. Wall Street Zen cut shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Needham & Company LLC upped their price objective on shares of Amkor Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Morgan Stanley upped their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Zacks Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Finally, Melius Research raised shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 target price on the stock in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Amkor Technology currently has a consensus rating of "Hold" and an average price target of $67.38.

Insider Buying and Selling at Amkor Technology

In related news, Director Gil C. Tily sold 15,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the transaction, the director directly owned 108,806 shares of the company's stock, valued at $8,410,703.80. This represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $3,714,000.00. Following the transaction, the director directly owned 502,558 shares in the company, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 114,000 shares of company stock valued at $8,329,250 over the last 90 days. Insiders own 26.40% of the company's stock.

Amkor Technology Trading Up 9.4%

NASDAQ:AMKR opened at $76.15 on Friday. The firm's fifty day moving average is $67.24 and its 200-day moving average is $53.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. Amkor Technology, Inc. has a 52 week low of $19.79 and a 52 week high of $79.50. The firm has a market cap of $18.88 billion, a P/E ratio of 43.51 and a beta of 2.25.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.10. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates 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 was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. Equities analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.0835 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 annualized dividend and a yield of 0.4%. Amkor Technology's dividend payout ratio is currently 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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