Norges Bank Purchases Shares of 1,360,226 Amkor Technology, Inc. $AMKR

Key Points

• Norges Bank opened a new position in Amkor Technology during the fourth quarter, buying 1,360,226 shares valued at about $53.7 million. The stake represented 0.55% of the company based on its latest SEC filing.
• Amkor’s latest quarterly results beat expectations, with EPS of $0.33 versus the $0.23 estimate and revenue of $1.68 billion, up 27.5% year over year. The company also announced a quarterly dividend of $0.0835 per share, payable June 23.
• Insiders have been selling shares recently, including directors Roger Anthony Carolin and Winston J. Churchill, while analysts remain cautious overall. The stock has a consensus rating of Hold with an average price target of $67.38.

Norges Bank purchased a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,360,226 shares of the semiconductor company's stock, valued at approximately $53,702,000. Norges Bank owned 0.55% of Amkor Technology as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Amkor Technology by 4.6% in the third quarter. Vanguard Group Inc. now owns 15,779,847 shares of the semiconductor company's stock valued at $448,148,000 after purchasing an additional 687,900 shares during the period. AQR Capital Management LLC lifted its position in Amkor Technology by 18.4% during the third quarter. AQR Capital Management LLC now owns 4,211,529 shares of the semiconductor company's stock worth $119,607,000 after buying an additional 653,489 shares during the period. American Century Companies Inc. lifted its position in Amkor Technology by 0.5% during the third quarter. American Century Companies Inc. now owns 3,835,987 shares of the semiconductor company's stock worth $108,942,000 after buying an additional 17,656 shares during the period. Fisher Asset Management LLC boosted its stake in Amkor Technology by 204.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company's stock worth $82,712,000 after buying an additional 1,407,109 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Amkor Technology by 17.6% in the 3rd quarter. First Trust Advisors LP now owns 1,981,609 shares of the semiconductor company's stock worth $56,277,000 after buying an additional 296,057 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.

Insiders Place Their Bets

In other Amkor Technology news, Director Roger Anthony Carolin sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.24, for a total transaction of $1,524,800.00. Following the completion of the sale, the director owned 94,409 shares in the company, valued at $7,197,742.16. This trade represents a 17.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Winston J. Churchill sold 7,000 shares of Amkor Technology stock in a transaction that occurred 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 sale, the director owned 18,888 shares in the company, valued at $1,443,987.60. This represents a 27.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 113,000 shares of company stock valued at $8,258,950. Insiders own 26.40% of the company's stock.

Amkor Technology Stock Performance

NASDAQ AMKR opened at $64.95 on Monday. The company's fifty day simple moving average is $65.06 and its 200-day simple moving average is $52.07. Amkor Technology, Inc. has a 52 week low of $19.07 and a 52 week high of $79.50. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The stock has a market cap of $16.10 billion, a P/E ratio of 37.11 and a beta of 2.25.

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

Amkor Technology Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Amkor Technology's payout ratio is presently 18.86%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. B. Riley Financial upped their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Amkor Technology in a research report on Monday, April 20th. Morgan Stanley boosted their target price on shares of Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. UBS Group reaffirmed a "neutral" rating and set a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group increased their price target on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $67.38.

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.

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