New Age Alpha Advisors LLC Makes New Investment in Amkor Technology, Inc. $AMKR

Key Points

• New Age Alpha Advisors LLC opened a new position in Amkor Technology in the fourth quarter, buying 14,442 shares worth about $570,000.
• Amkor Technology’s latest quarterly results beat expectations, with EPS of $0.33 versus $0.23 expected and revenue of $1.68 billion, up 27.5% year over year.
• Despite the strong results, the stock saw insider selling and a mixed analyst outlook: directors sold shares recently, while Wall Street’s consensus rating remains Hold with an average price target of $67.38.

New Age Alpha Advisors LLC acquired a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 14,442 shares of the semiconductor company's stock, valued at approximately $570,000.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Amkor Technology by 100.6% in the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock valued at $349,000 after purchasing an additional 3,454,012 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Amkor Technology by 61.8% in the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 854 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Amkor Technology by 913.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company's stock valued at $136,000 after purchasing an additional 6,768 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Amkor Technology by 73.4% in the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company's stock valued at $9,476,000 after purchasing an additional 222,107 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Amkor Technology in the first quarter valued at approximately $271,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley increased their price target on Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Needham & Company LLC increased their price target on Amkor Technology from $65.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Wall Street Zen cut Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Melius Research raised Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a report on Monday, April 6th. Finally, Zacks Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $67.38.

Insider Buying and Selling at Amkor Technology

In other news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 502,558 shares in the company, valued at $37,330,008.24. This trade represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Winston J. Churchill sold 7,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.45, for a total value of $535,150.00. Following the transaction, the director owned 18,888 shares of the company's stock, valued at approximately $1,443,987.60. This represents a 27.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 113,000 shares of company stock valued at $8,258,950. Corporate insiders own 26.40% of the company's stock.

Amkor Technology Trading Down 2.2%

Shares of Amkor Technology stock opened at $70.58 on Friday. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 40.33 and a beta of 2.29. Amkor Technology, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $79.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The stock has a 50 day moving average of $62.18 and a 200 day moving average of $50.44.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.10. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The firm's revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, research analysts predict that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's dividend payout ratio (DPR) 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.