Geode Capital Management LLC Trims Stock Holdings in Amkor Technology, Inc. $AMKR

Key Points

• Geode Capital Management trimmed its Amkor Technology stake by 2.1% in the fourth quarter, selling 47,220 shares and ending with 2.23 million shares valued at about $88.1 million.
• Amkor Technology reported a strong latest quarter, with EPS of $0.33 beating estimates and revenue of $1.68 billion topping expectations, while revenue rose 27.5% year over year.
• Analyst sentiment remains mixed but generally cautious: the stock carries an average Hold rating, even as some firms raised targets and the consensus price target stands at $67.38.

Geode Capital Management LLC decreased its holdings in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,232,211 shares of the semiconductor company's stock after selling 47,220 shares during the period. Geode Capital Management LLC owned 0.90% of Amkor Technology worth $88,143,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Jackson Creek Investment Advisors LLC purchased a new position in shares of Amkor Technology in the fourth quarter worth about $2,314,000. Bleakley Financial Group LLC purchased a new position in shares of Amkor Technology in the fourth quarter worth about $419,000. Fisher Asset Management LLC increased its stake in shares of Amkor Technology by 204.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company's stock worth $82,712,000 after purchasing an additional 1,407,109 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Amkor Technology in the fourth quarter worth about $570,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Amkor Technology by 72.9% in the fourth quarter. Hantz Financial Services Inc. now owns 5,453 shares of the semiconductor company's stock worth $215,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company's stock.

Analyst Ratings Changes

AMKR has been the subject of several recent research reports. Melius Research upgraded shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. raised their price objective on shares of Amkor Technology from $32.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Morgan Stanley raised their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Zacks Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen lowered shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $67.38.

Amkor Technology Stock Performance

Shares of Amkor Technology 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 market cap of $16.10 billion, a PE ratio of 37.11 and a beta of 2.25. 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 50 day simple moving average of $65.06 and a two-hundred day simple moving average of $52.07.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.10. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. Amkor Technology's revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. Analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

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 issued a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's payout ratio is presently 18.86%.

Insider Transactions at Amkor Technology

In other news, EVP Mark N. Rogers sold 5,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $71.63, for a total value of $358,150.00. Following the completion of the sale, the executive vice president directly owned 38,904 shares in the company, valued at approximately $2,786,693.52. The trade was a 11.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the sale, the director owned 502,558 shares of the company's stock, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 113,000 shares of company stock worth $8,258,950. Corporate insiders own 26.40% of the company's stock.

About Amkor Technology

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.