Cookson Peirce & Co. Inc. Takes $1.48 Million Position in Amkor Technology, Inc. $AMKR

Key Points

• Cookson Peirce & Co. Inc. initiated a new position in Amkor Technology, buying 37,390 shares valued at about $1.48 million in the fourth quarter.
• Amkor reported stronger-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.
• Analyst sentiment remains cautious overall: the stock has a Hold consensus rating and a consensus target price of $67.38, even after several firms raised their price objectives.

Cookson Peirce & Co. Inc. bought a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 37,390 shares of the semiconductor company's stock, valued at approximately $1,476,000.

Several other large investors have also recently made changes to their positions in AMKR. Royal Bank of Canada lifted its holdings in shares of Amkor Technology by 100.6% during the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock valued at $349,000 after purchasing an additional 3,454,012 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Amkor Technology by 61.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock worth $40,000 after acquiring an additional 854 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Amkor Technology by 913.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company's stock worth $136,000 after acquiring an additional 6,768 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Amkor Technology by 73.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company's stock worth $9,476,000 after acquiring an additional 222,107 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in Amkor Technology in the 1st quarter worth approximately $271,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AMKR shares. Weiss Ratings restated a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. Morgan Stanley boosted their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Wall Street Zen lowered shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. B. Riley Financial boosted their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Finally, UBS Group restated a "neutral" rating and issued a $80.00 price objective on shares of Amkor Technology in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.38.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $64.95 on Monday. Amkor Technology, Inc. has a 1 year low of $19.07 and a 1 year high of $79.50. The firm has a fifty day moving average price of $65.06 and a 200-day moving average price of $52.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 37.11 and a beta of 2.25.

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

Amkor Technology Dividend Announcement

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

Insider Activity

In other news, Director Douglas A. Alexander sold 5,000 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the director owned 29,109 shares of the company's stock, valued at $2,229,167.22. The trade was a 14.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Megan Faust sold 1,000 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $64.60, for a total transaction of $64,600.00. Following the completion of the transaction, the chief financial officer directly owned 133,138 shares of the company's stock, valued at $8,600,714.80. This represents a 0.75% 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. Over the last 90 days, insiders have sold 113,000 shares of company stock worth $8,258,950. Company insiders own 26.40% of the company's stock.

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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