D.A. Davidson & CO. Acquires 44,322 Shares of Amkor Technology, Inc. $AMKR

Key Points

• D.A. Davidson & CO. acquired 44,322 Amkor Technology shares in the third quarter, worth approximately $2.32 million. Hedge funds and institutions collectively own 42.76% of the company.
• Amkor’s latest quarterly results fell short of expectations: earnings were $0.76 per share versus $0.78 expected, and revenue was $1.99 billion versus $2.04 billion expected. Revenue rose 0.2% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $62.50. Company insiders sold 18,000 shares worth about $1.00 million over the last three months.

D.A. Davidson & CO. acquired a new stake in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 44,322 shares of the semiconductor company's stock, valued at approximately $2,322,000.

Several other hedge funds have also recently bought and sold shares of AMKR. CoreCap Advisors LLC grew its position in Amkor Technology by 56.4% in the 2nd quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Curry Webb Wealth Management LLC purchased a new stake in Amkor Technology during the third quarter worth about $39,000. Mather Group LLC. acquired a new stake in shares of Amkor Technology during the third quarter worth about $41,000. Clearstead Trust LLC acquired a new stake in shares of Amkor Technology during the second quarter worth about $43,000. Finally, Hollencrest Capital Management acquired a new stake 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.

Insider Activity

In other news, CFO Megan Faust sold 1,000 shares of the firm's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $46.92, for a total value of $46,920.00. Following the sale, the chief financial officer directly owned 133,105 shares in the company, valued at approximately $6,245,286.60. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Rogers sold 5,000 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $59.78, for a total transaction of $298,900.00. Following the transaction, the executive vice president owned 38,904 shares of the company's stock, valued at approximately $2,325,681.12. The trade was a 11.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 18,000 shares of company stock worth $1,003,370. 26.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on AMKR. B. Riley Financial lowered their price objective on shares of Amkor Technology from $46.00 to $41.00 and set a "neutral" rating for the company in a research note on Tuesday, October 27th. Wall Street Zen lowered shares of Amkor Technology from a "buy" rating to a "hold" rating in a report on Saturday. The Goldman Sachs Group set a $56.00 price target on shares of Amkor Technology in a research report on Tuesday, October 27th. Bank of America assumed coverage on shares of Amkor Technology in a research note on Thursday, August 27th. They issued a "buy" rating and a $70.00 price target for the company. Finally, Zacks Research downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $62.50.

Amkor Technology Stock Performance

Shares of AMKR opened at $37.62 on Wednesday. Amkor Technology, Inc. has a 1 year low of $29.76 and a 1 year high of $96.68. The stock has a market capitalization of $9.32 billion, a PE ratio of 15.17, a PEG ratio of 0.46 and a beta of 2.39. 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 stock has a 50-day simple moving average of $47.50 and a 200-day simple moving average of $56.94.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its earnings results 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). Amkor Technology had a return on equity of 13.32% and a net margin of 8.30%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm's quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Amkor Technology, Inc. will post 2.50 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd were given a $0.0835 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.9%. Amkor Technology's dividend payout ratio is currently 13.31%.

Amkor Technology Company Profile

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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