AXQ Capital LP Buys New Stake in Amkor Technology, Inc. $AMKR

Key Points

• AXQ Capital LP initiated a new position in Amkor Technology during the fourth quarter, buying 20,780 shares valued at about $820,000.
• Other institutional investors also added to their holdings, and 42.76% of Amkor’s stock is now owned by institutions and hedge funds.
• Amkor reported better-than-expected quarterly results with EPS of $0.33 versus $0.23 expected and revenue of $1.68 billion, while analysts currently rate the stock Hold on average.

AXQ Capital LP bought a new stake in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,780 shares of the semiconductor company's stock, valued at approximately $820,000.

Several other large investors have also recently added to or reduced their stakes in the business. Root Financial Partners LLC increased its position in Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 262 shares during the period. Signaturefd LLC boosted its stake in Amkor Technology by 11.3% during the 4th quarter. Signaturefd LLC now owns 2,644 shares of the semiconductor company's stock valued at $104,000 after purchasing an additional 269 shares in the last quarter. Bessemer Group Inc. boosted its stake in Amkor Technology by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 391 shares in the last quarter. IFP Advisors Inc boosted its stake in Amkor Technology by 91.2% during the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 447 shares in the last quarter. Finally, Vest Financial LLC boosted its stake in Amkor Technology by 6.8% during the 4th quarter. Vest Financial LLC now owns 7,777 shares of the semiconductor company's stock valued at $307,000 after purchasing an additional 493 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMKR has been the subject of a number of research reports. Zacks Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 25th. B. Riley Financial increased their price target on Amkor Technology from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. The Goldman Sachs Group increased their price target on Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Wall Street Zen lowered Amkor Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 21st. Finally, Melius Research raised Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a research note on Monday, April 6th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Amkor Technology currently has an average rating of "Hold" and an average target price of $67.38.

Insiders Place Their Bets

In other news, Director Gil C. Tily sold 15,000 shares of the firm'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 completion of the sale, the director owned 108,806 shares of the company's stock, valued at $8,410,703.80. This trade represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the firm's 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 directly owned 502,558 shares of the company's stock, valued at approximately $37,330,008.24. This trade represents a 9.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,000 shares of company stock valued at $8,258,950 over the last quarter. 26.40% of the stock is owned by insiders.

Amkor Technology Stock Performance

Shares of NASDAQ AMKR opened at $74.74 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 42.71 and a beta of 2.25. The stock's fifty day simple moving average is $63.12 and its 200 day simple moving average is $50.95. Amkor Technology, Inc. has a 52-week low of $17.81 and a 52-week high of $79.23.

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 analysts' consensus estimates of $0.23 by $0.10. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company's quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. As a group, sell-side analysts forecast that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

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 issued a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's payout ratio is presently 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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