LSV Asset Management Cuts Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Key Points

• LSV Asset Management reduced its stake in Amkor Technology by 1.3%, owning approximately 5.2 million shares valued at $93.8 million after selling 69,437 shares during the 1st quarter.
• Amkor Technology's recent quarterly earnings report indicated an EPS of $0.22, surpassing estimates and showing a revenue increase of 3.4% year-over-year with $1.51 billion generated.
• The company announced a quarterly dividend of $0.0827, resulting in a dividend yield of 1.5%, with a payout ratio currently at 26.83%.

LSV Asset Management lessened its position in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,195,617 shares of the semiconductor company's stock after selling 69,437 shares during the quarter. LSV Asset Management owned approximately 2.10% of Amkor Technology worth $93,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its stake in Amkor Technology by 0.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 90,081 shares of the semiconductor company's stock worth $2,313,000 after purchasing an additional 484 shares in the last quarter. Transce3nd LLC grew its stake in Amkor Technology by 5.8% during the 1st quarter. Transce3nd LLC now owns 15,817 shares of the semiconductor company's stock worth $283,000 after purchasing an additional 864 shares in the last quarter. Merit Financial Group LLC grew its stake in Amkor Technology by 6.4% during the 1st quarter. Merit Financial Group LLC now owns 14,595 shares of the semiconductor company's stock worth $264,000 after purchasing an additional 873 shares in the last quarter. Riverwater Partners LLC grew its stake in Amkor Technology by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 44,088 shares of the semiconductor company's stock worth $1,133,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Amkor Technology by 9.8% during the 1st quarter. Assetmark Inc. now owns 13,570 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 1,208 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company's stock.

Insider Buying and Selling at Amkor Technology

In other news, EVP Mark N. Rogers sold 15,000 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $23.58, for a total value of $353,700.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 26.90% of the company's stock.

Amkor Technology Trading Down 3.6%

NASDAQ:AMKR opened at $21.75 on Friday. The stock has a 50-day simple moving average of $20.82 and a 200-day simple moving average of $20.33. The stock has a market cap of $5.38 billion, a P/E ratio of 17.68 and a beta of 1.85. Amkor Technology, Inc. has a 1 year low of $14.03 and a 1 year high of $33.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.83 and a current ratio of 1.89.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Amkor Technology had a return on equity of 7.23% and a net margin of 4.80%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the prior year, the firm posted $0.27 EPS. The business's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts anticipate 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. Stockholders of record on Thursday, June 5th were issued a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, June 5th. Amkor Technology's payout ratio is presently 26.83%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. DA Davidson lowered their target price on Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. B. Riley boosted their target price on Amkor Technology from $18.00 to $24.00 and gave the stock a "neutral" rating in a research note 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. Morgan Stanley reissued an "equal weight" rating on shares of Amkor Technology in a research note on Tuesday. Finally, Needham & Company LLC upped their price objective on Amkor Technology from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Amkor Technology has a consensus rating of "Hold" and a consensus target price of $26.44.

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.

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