ING Groep NV Invests $1.42 Million in Amkor Technology, Inc. (NASDAQ:AMKR)

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 bought a new position in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 78,600 shares of the semiconductor company's stock, valued at approximately $1,420,000.

Other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its position in Amkor Technology by 15.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,886 shares of the semiconductor company's stock worth $197,000 after purchasing an additional 1,423 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Amkor Technology by 22.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,963 shares of the semiconductor company's stock worth $379,000 after acquiring an additional 3,885 shares during the period. Allspring Global Investments Holdings LLC increased its position in Amkor Technology by 32.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,260 shares of the semiconductor company's stock valued at $403,000 after acquiring an additional 5,447 shares during the last quarter. M&T Bank Corp lifted its holdings in Amkor Technology by 36.9% in the first quarter. M&T Bank Corp now owns 52,816 shares of the semiconductor company's stock valued at $954,000 after acquiring an additional 14,236 shares during the period. Finally, Geode Capital Management LLC boosted its position in Amkor Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company's stock worth $54,209,000 after purchasing an additional 15,211 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Price Performance

Shares of Amkor Technology stock traded up $0.14 during trading hours on Monday, hitting $23.27. The company's stock had a trading volume of 266,100 shares, compared to its average volume of 2,157,731. The company has a market cap of $5.75 billion, a PE ratio of 18.93 and a beta of 1.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.70 and a current ratio of 1.89. The business has a 50 day moving average price of $21.22 and a two-hundred day moving average price of $20.17. Amkor Technology, Inc. has a 12-month low of $14.03 and a 12-month high of $33.85.

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

Amkor Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were issued a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Thursday, June 5th. Amkor Technology's payout ratio is currently 26.83%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AMKR shares. Morgan Stanley reissued an "equal weight" rating on shares of Amkor Technology in a report on Tuesday, July 29th. UBS Group lifted their price target on shares of Amkor Technology from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a research report on Thursday, July 10th. They set a "neutral" rating and a $20.00 price objective for the company. KeyCorp reaffirmed a "sector weight" rating on shares of Amkor Technology in a report on Thursday, April 17th. Finally, B. Riley upped their price target on Amkor Technology from $18.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Amkor Technology currently has a consensus rating of "Hold" and a consensus target price of $26.44.

Insider Buying and Selling at Amkor Technology

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

Amkor Technology 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.