Fourier Capital Management Ltd Purchases New Stake in Amkor Technology, Inc. $AMKR

Key Points

• Fourier Capital Management disclosed a new stake in Amkor Technology, buying 258,802 shares valued at about $10.2 million. The position now represents roughly 10.9% of its portfolio and about 0.10% of Amkor’s shares outstanding.
• Analysts remain mixed on AMKR despite several target-price hikes, with Morgan Stanley, JPMorgan, and B. Riley all raising their targets. MarketBeat’s summary shows an average rating of Hold and an average price target of $62.75.
• Amkor reported strong quarterly results, posting EPS of $0.33 versus the $0.23 estimate and revenue of $1.68 billion, up 27.5% year over year. The company also announced a quarterly dividend of $0.0835 per share, payable June 23.

Fourier Capital Management Ltd purchased a new stake in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 258,802 shares of the semiconductor company's stock, valued at approximately $10,218,000. Amkor Technology comprises about 10.9% of Fourier Capital Management Ltd's investment portfolio, making the stock its biggest position. Fourier Capital Management Ltd owned about 0.10% of Amkor Technology at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH increased its holdings in shares of Amkor Technology by 47.0% in the third quarter. Allianz Asset Management GmbH now owns 519,461 shares of the semiconductor company's stock valued at $14,753,000 after purchasing an additional 166,091 shares during the last quarter. UBS Group AG increased its stake in Amkor Technology by 205.5% during the fourth quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company's stock worth $49,534,000 after acquiring an additional 843,983 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Amkor Technology by 53.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 59,386 shares of the semiconductor company's stock worth $1,767,000 after acquiring an additional 20,710 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Amkor Technology during the fourth quarter worth $4,868,000. Finally, SummerHaven Investment Management LLC acquired a new stake in Amkor Technology during the third quarter worth $1,098,000. Institutional investors and hedge funds own 42.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMKR. Morgan Stanley raised their target price on Amkor Technology from $45.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Melius Research upgraded Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a research report on Monday, April 6th. JPMorgan Chase & Co. raised their price target on Amkor Technology from $32.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 10th. Wall Street Zen lowered Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Finally, B. Riley Financial raised their price target on Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $62.75.

Insider Buying and Selling at Amkor Technology

In other news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the transaction, the director directly owned 502,558 shares in the company, valued at $37,330,008.24. The trade was a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger Anthony Carolin sold 20,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total transaction of $1,524,800.00. Following the completion of the transaction, the director directly owned 94,409 shares of the company's stock, valued at approximately $7,197,742.16. This trade represents a 17.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 139,500 shares of company stock valued at $9,421,575. Insiders own 26.40% of the company's stock.

Amkor Technology Stock Up 1.6%

Shares of NASDAQ:AMKR opened at $74.61 on Thursday. Amkor Technology, Inc. has a twelve month low of $17.79 and a twelve month high of $79.23. The company has a market capitalization of $18.49 billion, a PE ratio of 42.63 and a beta of 2.29. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $56.71 and a 200-day simple moving average of $47.75.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period in the previous year, the company earned $0.09 earnings per share. Amkor Technology's quarterly revenue was up 27.5% compared to the same quarter last year. On average, equities analysts predict that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.0835 per share. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.