Amkor Technology, Inc. $AMKR Stock: EULAV Asset Management Trims Position

Key Points

• EULAV Asset Management cut its Amkor Technology position by 30.8% in the third quarter, selling 25,894 shares and retaining 58,069 shares valued at approximately $3.04 million. Hedge funds and institutional investors collectively own 42.76% of AMKR.
• Amkor insiders sold 46,221 shares worth about $2.54 million over the last quarter, including transactions by an executive vice president and the CFO under pre-arranged Rule 10b5-1 plans.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $66.22. Amkor reported quarterly revenue of $1.90 billion and earnings of $0.70 per share, both above expectations.

EULAV Asset Management lessened its holdings in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 30.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,069 shares of the semiconductor company's stock after selling 25,894 shares during the period. EULAV Asset Management's holdings in Amkor Technology were worth $3,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AMKR. CoreCap Advisors LLC increased its position in shares of Amkor Technology by 56.4% during the 2nd quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Curry Webb Wealth Management LLC acquired a new position in Amkor Technology in the third quarter valued at about $39,000. Mather Group LLC. purchased a new position in Amkor Technology during the third quarter worth about $41,000. Clearstead Trust LLC purchased a new position in Amkor Technology during the second quarter worth about $43,000. Finally, Hollencrest Capital Management purchased a new position in Amkor Technology during the first quarter worth about $45,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $59.78, for a total value of $298,900.00. Following the sale, the executive vice president directly owned 38,904 shares in the company, valued at approximately $2,325,681.12. This trade represents a 11.39% decrease in their ownership of the stock. The sale 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, CFO Megan Faust sold 1,000 shares of the stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $46.92, for a total value of $46,920.00. Following the completion of the sale, the chief financial officer owned 133,105 shares in the company, valued at approximately $6,245,286.60. The trade was a 0.75% 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. Over the last quarter, insiders have sold 46,221 shares of company stock valued at $2,538,507. Corporate insiders own 26.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMKR shares. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of Amkor Technology in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of Amkor Technology from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Morgan Stanley lifted their target price on shares of Amkor Technology from $69.00 to $70.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Zacks Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Finally, UBS Group raised Amkor Technology from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $80.00 to $90.00 in a research note on Friday, July 24th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Amkor Technology has a consensus rating of "Moderate Buy" and an average price target of $66.22.

Amkor Technology Price Performance

Shares of AMKR opened at $39.30 on Monday. The company's 50-day simple moving average is $49.29 and its 200-day simple moving average is $61.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.91 and a current ratio of 2.17. Amkor Technology, Inc. has a 1 year low of $29.50 and a 1 year high of $96.68. The stock has a market capitalization of $9.76 billion, a PE ratio of 17.62, a P/E/G ratio of 0.48 and a beta of 2.21.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.23. Amkor Technology had a net margin of 7.45% and a return on equity of 12.27%. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter in the previous year, the business posted $0.22 earnings per share. The business's quarterly revenue was up 25.6% compared to the same quarter last year. Analysts forecast that Amkor Technology, Inc. will post 2.60 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd were given a $0.0835 dividend. This represents a $0.33 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 2nd. Amkor Technology's dividend payout ratio (DPR) is currently 14.80%.

About Amkor Technology

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The company helps semiconductor manufacturers and electronics companies assemble, package and test integrated circuits before they are incorporated into finished electronic products.

Amkor's services include wafer bumping, wafer-level packaging, flip-chip packaging, system-in-package solutions, fan-out packaging, leadframe and laminate-based packaging, and semiconductor testing. Its products and services support applications including mobile and consumer electronics, communications, automotive, computing, industrial equipment, and memory devices.

Founded in 1968, Amkor has grown into a global semiconductor supply-chain partner with manufacturing and testing operations across regions including Asia, Europe and the United States.

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