78,600 Shares in Amkor Technology, Inc. (NASDAQ:AMKR) Acquired by ING Groep NV

Key Points

• ING Groep NV has acquired 78,600 shares of Amkor Technology, Inc., valued at approximately $1.42 million, as part of its first-quarter investments.
• Major shareholders, including John T. Kim and Sujoda Management, recently increased their stakes by purchasing 441,589 shares each at an average price of $21.85 per share.
• Amkor Technology reported a net revenue of $1.51 billion for the last quarter, exceeding analyst expectations, with an earnings per share (EPS) of $0.22, up from $0.16 forecasted.

ING Groep NV purchased a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 78,600 shares of the semiconductor company's stock, valued at approximately $1,420,000.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in Amkor Technology by 421.0% in the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 1,242 shares during the period. UMB Bank n.a. grew its position in shares of Amkor Technology by 677.0% during the first quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 1,530 shares in the last quarter. Allworth Financial LP grew its position in shares of Amkor Technology by 166.3% during the first quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 1,357 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Amkor Technology by 467.7% during the first quarter. Versant Capital Management Inc now owns 3,009 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Palouse Capital Management Inc. grew its holdings in Amkor Technology by 52.2% during the 1st quarter. Palouse Capital Management Inc. now owns 4,010 shares of the semiconductor company's stock valued at $72,000 after buying an additional 1,375 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group lifted their target price on Amkor Technology from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Needham & Company LLC boosted their price target on Amkor Technology from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their target price on Amkor Technology from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. DA Davidson dropped their price target on Amkor Technology from $36.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Amkor Technology in a report on Tuesday, July 29th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $26.44.

Insider Buying and Selling

In other Amkor Technology news, major shareholder John T. Kim purchased 441,589 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $21.85 per share, with a total value of $9,648,719.65. Following the transaction, the insider owned 3,789,479 shares in the company, valued at approximately $82,800,116.15. This trade represents a 13.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark N. Rogers sold 15,000 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $23.58, for a total transaction of $353,700.00. Following the completion of the transaction, the executive vice president directly owned 23,862 shares of the company's stock, valued at approximately $562,665.96. The trade was a 38.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.90% of the company's stock.

Amkor Technology Stock Performance

Shares of NASDAQ AMKR traded up $0.26 during midday trading on Friday, reaching $23.13. 2,267,183 shares of the company were exchanged, compared to its average volume of 2,562,687. The company has a current ratio of 1.89, a quick ratio of 1.70 and a debt-to-equity ratio of 0.28. Amkor Technology, Inc. has a 1 year low of $14.03 and a 1 year high of $33.85. The stock has a fifty day simple moving average of $21.22 and a 200 day simple moving average of $20.21. The stock has a market cap of $5.72 billion, a P/E ratio of 18.80 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. Amkor Technology had a net margin of 4.80% and a return on equity of 7.23%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm earned $0.27 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were given a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 5th. Amkor Technology's dividend payout ratio (DPR) is 26.83%.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.