Arrowpoint Investment Partners Singapore Pte. Ltd. Acquires Shares of 48,698 Amkor Technology, Inc. $AMKR

Key Points

• Arrowpoint Investment Partners Singapore opened a new position in Amkor Technology, buying 48,698 shares worth about $1.92 million in the fourth quarter.
• Amkor reported better-than-expected quarterly results, with EPS of $0.33 versus $0.23 expected and revenue of $1.68 billion, up 27.5% year over year.
• Despite the earnings beat, insider selling and mixed analyst views remain notable: directors sold shares recently, and Wall Street’s consensus rating is Hold with an average price target of $67.38.

Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 48,698 shares of the semiconductor company's stock, valued at approximately $1,923,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Amkor Technology by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 15,779,847 shares of the semiconductor company's stock valued at $448,148,000 after buying an additional 687,900 shares in the last quarter. AQR Capital Management LLC grew its holdings in Amkor Technology by 18.4% during the 3rd quarter. AQR Capital Management LLC now owns 4,211,529 shares of the semiconductor company's stock valued at $119,607,000 after buying an additional 653,489 shares in the last quarter. American Century Companies Inc. grew its holdings in Amkor Technology by 0.5% during the 3rd quarter. American Century Companies Inc. now owns 3,835,987 shares of the semiconductor company's stock valued at $108,942,000 after buying an additional 17,656 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Amkor Technology by 204.5% during the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company's stock valued at $82,712,000 after buying an additional 1,407,109 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Amkor Technology by 17.6% during the 3rd quarter. First Trust Advisors LP now owns 1,981,609 shares of the semiconductor company's stock valued at $56,277,000 after buying an additional 296,057 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amkor Technology news, Director Gil C. Tily sold 15,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total value of $1,159,500.00. Following the transaction, the director owned 108,806 shares of the company's stock, valued at $8,410,703.80. This represents a 12.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Winston J. Churchill sold 7,000 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $76.45, for a total value of $535,150.00. Following the completion of the transaction, the director directly owned 18,888 shares in the company, valued at $1,443,987.60. This trade represents a 27.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 113,000 shares of company stock worth $8,258,950 over the last ninety days. Corporate insiders own 26.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMKR shares. The Goldman Sachs Group increased their target price on Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. UBS Group reiterated a "neutral" rating and set a $80.00 target price on shares of Amkor Technology in a research report on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on Amkor Technology from $32.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Morgan Stanley increased their target price on Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen downgraded Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $67.38.

Amkor Technology Trading Down 1.8%

AMKR stock opened at $73.82 on Friday. 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, Inc. has a twelve month low of $18.65 and a twelve month high of $79.50. The stock has a market capitalization of $18.30 billion, a price-to-earnings ratio of 42.18 and a beta of 2.25. The firm's fifty day simple moving average is $64.76 and its two-hundred day simple moving average is $51.83.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share 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 business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. The business's revenue was up 27.5% compared to the same quarter last year. As a group, analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a $0.0835 dividend. This represents a $0.33 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Amkor Technology's dividend payout ratio is 18.86%.

Amkor Technology 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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