Amkor Technology, Inc. $AMKR Stock Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Ltd Zurich cut its Amkor holdings by 47.9% in the third quarter, selling 78,252 shares and retaining 85,274 shares valued at about $4.48 million.
• Amkor’s latest quarter fell short of expectations: EPS was $0.76 versus a $0.78 consensus, and revenue was $1.99 billion versus estimates of $2.04 billion, although revenue rose 0.2% year over year.
• Analyst sentiment is mixed, with five Buy, five Hold and one Sell rating; MarketBeat reported a consensus Hold rating and an average price target of $62.50.

Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 47.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,274 shares of the semiconductor company's stock after selling 78,252 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Amkor Technology were worth $4,482,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMKR. CoreCap Advisors LLC boosted its position in 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 period. Curry Webb Wealth Management LLC purchased 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 in the third quarter valued at about $41,000. Clearstead Trust LLC purchased a new position in Amkor Technology in the second quarter valued at about $43,000. Finally, Hollencrest Capital Management acquired a new position in shares of Amkor Technology during the first quarter worth about $45,000. Institutional investors and hedge funds own 42.76% of the company's stock.

Amkor Technology Trading Up 1.8%

NASDAQ:AMKR opened at $37.62 on Wednesday. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.46 and a beta of 2.39. Amkor Technology, Inc. has a one year low of $29.76 and a one year high of $96.68. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.89 and a current ratio of 2.17. The business's 50-day simple moving average is $47.50 and its 200 day simple moving average is $56.94.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.04 billion. Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. Amkor Technology's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. As a group, sell-side analysts predict that Amkor Technology, Inc. will post 2.50 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd were issued a dividend of $0.0835 per share. 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 13.31%.

Insiders Place Their Bets

In other news, EVP Mark N. Rogers sold 5,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $59.78, for a total value of $298,900.00. Following the sale, the executive vice president owned 38,904 shares in the company, valued at approximately $2,325,681.12. This represents a 11.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas A. Alexander sold 5,000 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the director directly owned 29,109 shares in the company, valued at $1,600,995. The trade was a 14.66% decrease in their position. 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. Insiders sold a total of 18,000 shares of company stock valued at $1,003,370 in the last ninety days. Corporate insiders own 26.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMKR shares. UBS Group raised Amkor Technology from a "neutral" rating to a "buy" rating and upped their target price for the stock from $80.00 to $90.00 in a research report on Friday, July 24th. Weiss Ratings downgraded Amkor Technology from a "hold (c+)" rating to a "sell (d+)" rating in a report on Wednesday, October 28th. Wall Street Zen lowered Amkor Technology from a "buy" rating to a "hold" rating in a research report on Saturday. Zacks Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Finally, Needham & Company LLC lowered their price objective on shares of Amkor Technology from $90.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, October 27th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Amkor Technology presently has a consensus rating of "Hold" and an average price target of $62.50.

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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