Bank of New York Mellon Corp Lowers Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Bank of New York Mellon Corp reduced its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470,154 shares of the semiconductor company's stock after selling 135,735 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Amkor Technology worth $26,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AMKR. Jones Financial Companies Lllp grew its holdings in Amkor Technology by 353.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company's stock valued at $38,000 after buying an additional 1,160 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Amkor Technology in the fourth quarter valued at $310,000. Raymond James Financial Inc. purchased a new position in shares of Amkor Technology in the fourth quarter valued at $5,666,000. Swiss National Bank grew its holdings in shares of Amkor Technology by 0.8% in the fourth quarter. Swiss National Bank now owns 218,100 shares of the semiconductor company's stock valued at $5,603,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Amkor Technology by 131.9% in the fourth quarter. Intech Investment Management LLC now owns 22,664 shares of the semiconductor company's stock valued at $582,000 after purchasing an additional 12,892 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMKR. The Goldman Sachs Group began coverage on shares of Amkor Technology in a report on Thursday, July 10th. They issued a "neutral" rating and a $20.00 target price for the company. JPMorgan Chase & Co. lowered their price target on Amkor Technology from $30.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Morgan Stanley lowered their price target on Amkor Technology from $24.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. KeyCorp reiterated a "sector weight" rating on shares of Amkor Technology in a research report on Thursday, April 17th. Finally, DA Davidson decreased their target price on Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $26.50.

Amkor Technology Stock Down 0.6%

Shares of AMKR stock traded down $0.13 on Friday, hitting $21.51. The stock had a trading volume of 1,085,477 shares, compared to its average volume of 1,804,238. The company has a quick ratio of 1.83, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $20.19 and a 200 day moving average price of $20.66. The company has a market cap of $5.31 billion, a PE ratio of 16.80 and a beta of 1.85. Amkor Technology, Inc. has a one year low of $14.03 and a one year high of $42.12.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its earnings results on Monday, April 28th. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Amkor Technology had a net margin of 5.04% and a return on equity of 7.60%. The firm's revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. Research analysts anticipate that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were issued a $0.0827 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.33 dividend on an annualized basis and a yield of 1.54%. Amkor Technology's dividend payout ratio is presently 25.78%.

About Amkor Technology

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.