GHP Investment Advisors Inc. Sells 65,192 Shares of Amkor Technology, Inc. $AMKR

Key Points

• GHP Investment Advisors cut its Amkor Technology stake by 72.6% in the first quarter, selling 65,192 shares and leaving it with 24,610 shares valued at about $1.11 million.
• Insider selling has also been notable, with directors Guillaume Marie Jean Rutten and Gil C. Tily selling 65,000 shares combined; insiders have sold 119,000 shares worth $8.93 million over the last 90 days.
• Amkor reported strong first-quarter results, beating EPS and revenue estimates, while analysts currently rate the stock Hold overall with a consensus price target of $69.88.

GHP Investment Advisors Inc. lowered its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 72.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,610 shares of the semiconductor company's stock after selling 65,192 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Amkor Technology were worth $1,108,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the 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 transaction, the director owned 502,558 shares in the company, valued at approximately $37,330,008.24. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gil C. Tily sold 15,000 shares of Amkor Technology stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.30, for a total value of $1,159,500.00. Following the sale, the director directly owned 108,806 shares of the company's stock, valued at approximately $8,410,703.80. The trade was a 12.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,000 shares of company stock valued at $8,928,600 in the last ninety days. 26.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMKR shares. Needham & Company LLC lifted their target price on Amkor Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. UBS Group restated a "neutral" rating and issued a $80.00 price target on shares of Amkor Technology in a research note on Tuesday, May 26th. The Goldman Sachs Group upped their price objective on Amkor Technology from $43.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Amkor Technology in a research note on Monday, April 20th. Finally, Wall Street Zen downgraded shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $69.88.

Amkor Technology Price Performance

Shares of NASDAQ AMKR opened at $78.72 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The business's 50 day moving average price is $74.59 and its two-hundred day moving average price is $56.80. The company has a market cap of $19.51 billion, a PE ratio of 44.98 and a beta of 2.25. Amkor Technology, Inc. has a twelve month low of $20.59 and a twelve month high of $96.68.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released 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 return on equity of 9.88% and a net margin of 6.17%.The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period last year, the firm posted $0.09 earnings per share. The business's revenue was up 27.5% on a year-over-year basis. On average, analysts predict that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were issued 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 was Wednesday, June 3rd. Amkor Technology's payout ratio is currently 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.