Mirae Asset Global Investments Co. Ltd. Buys 62,273 Shares of Amkor Technology, Inc. $AMKR

Key Points

• Mirae Asset Global Investments opened a new Amkor Technology position, buying 62,273 shares worth approximately $3.26 million in the third quarter. Institutional investors and hedge funds collectively own 42.76% of the company.
• Amkor reported quarterly EPS of $0.76 and revenue of $1.99 billion, both slightly below analyst expectations, though revenue increased 0.2% year over year.
• Analysts hold a consensus “Hold” rating with an average price target of $62.50. Company insiders sold 13,000 shares worth about $724,000 over the past three months.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,273 shares of the semiconductor company's stock, valued at approximately $3,262,000.

Other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC increased its stake in shares of Amkor Technology by 44.2% during the third quarter. ProShare Advisors LLC now owns 18,244 shares of the semiconductor company's stock worth $956,000 after buying an additional 5,588 shares during the period. Vise Technologies Inc. acquired a new position in Amkor Technology during the 3rd quarter worth approximately $732,000. State of Wyoming purchased a new stake in shares of Amkor Technology in the 3rd quarter valued at approximately $58,000. D.A. Davidson & CO. purchased a new stake in shares of Amkor Technology in the 3rd quarter valued at approximately $2,322,000. Finally, M & L Capital Management Ltd increased its position in shares of Amkor Technology by 112.2% in the 3rd quarter. M & L Capital Management Ltd now owns 87,000 shares of the semiconductor company's stock valued at $4,557,000 after purchasing an additional 46,000 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.

Insider Activity at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 1,000 shares of the business's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $46.92, for a total value of $46,920.00. Following the transaction, the chief financial officer directly owned 133,105 shares of the company's stock, valued at approximately $6,245,286.60. The trade was a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Rogers sold 5,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $59.78, for a total transaction of $298,900.00. Following the completion of the sale, the executive vice president owned 38,904 shares of the company's stock, valued at $2,325,681.12. This trade represents a 11.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,000 shares of company stock worth $724,320 in the last three months. Insiders own 26.40% of the company's stock.

Amkor Technology Stock Performance

Shares of Amkor Technology stock traded up $2.33 on Friday, hitting $32.82. The stock had a trading volume of 7,212,895 shares, compared to its average volume of 5,524,238. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.46 and a beta of 2.39. The company has a current ratio of 2.17, a quick ratio of 1.89 and a debt-to-equity ratio of 0.48. Amkor Technology, Inc. has a 52-week low of $29.76 and a 52-week high of $96.68. The company's 50 day moving average price is $46.50 and its 200 day moving average price is $56.70.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.04 billion. Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. Amkor Technology's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, research analysts anticipate that Amkor Technology, Inc. will post 2.50 EPS for the current year.

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd were issued a dividend of $0.0835 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $0.33 annualized dividend and a dividend yield of 1.0%. Amkor Technology's dividend payout ratio (DPR) is currently 13.31%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America assumed coverage on shares of Amkor Technology in a research note on Thursday, August 27th. They set a "buy" rating and a $70.00 target price for the company. B. Riley Financial dropped their price objective on Amkor Technology from $46.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, October 27th. UBS Group raised Amkor Technology from a "neutral" rating to a "buy" rating and raised their target price for the stock from $80.00 to $90.00 in a research report on Friday, July 24th. Weiss Ratings cut Amkor Technology from a "hold (c+)" rating to a "sell (d+)" rating in a research note on Wednesday, October 28th. Finally, Needham & Company LLC lowered their price target on Amkor Technology from $90.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, October 27th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $62.50.

Amkor Technology Company Profile

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The company helps semiconductor manufacturers and electronics companies assemble, package and test integrated circuits before they are incorporated into finished electronic products.

Amkor's services include wafer bumping, wafer-level packaging, flip-chip packaging, system-in-package solutions, fan-out packaging, leadframe and laminate-based packaging, and semiconductor testing. Its products and services support applications including mobile and consumer electronics, communications, automotive, computing, industrial equipment, and memory devices.

Founded in 1968, Amkor has grown into a global semiconductor supply-chain partner with manufacturing and testing operations across regions including Asia, Europe and the United States.

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