Principal Financial Group Inc. Sells 69,725 Shares of Amkor Technology, Inc. $AMKR

Key Points

• Principal Financial Group trimmed its stake in Amkor Technology (AMKR) by 3.1%, selling 69,725 shares and now holds 2,199,115 shares worth about $86.8 million (0.89% of the company).
• Amkor beat Q1 estimates, reporting $0.33 EPS vs. $0.23 expected and $1.68B in revenue vs. $1.63B, with revenue up 27.5% year-over-year and a market cap near $19.1B.
• Insiders have been selling: insiders disposed of 42,500 shares (~$2.1M) last quarter—including sales by the CEO and a director—while insiders still own about 26.4% of the stock and institutions own 42.76%.

Principal Financial Group Inc. cut its holdings in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,199,115 shares of the semiconductor company's stock after selling 69,725 shares during the period. Principal Financial Group Inc. owned 0.89% of Amkor Technology worth $86,833,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its holdings in Amkor Technology by 47.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 519,461 shares of the semiconductor company's stock worth $14,753,000 after buying an additional 166,091 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Amkor Technology by 53.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 59,386 shares of the semiconductor company's stock worth $1,767,000 after buying an additional 20,710 shares during the period. GF Fund Management CO. LTD. bought a new position in Amkor Technology in the 4th quarter worth approximately $4,868,000. SummerHaven Investment Management LLC bought a new position in Amkor Technology in the 3rd quarter worth approximately $1,098,000. Finally, Knights of Columbus Asset Advisors LLC bought a new position in Amkor Technology in the 3rd quarter worth approximately $1,918,000. 42.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMKR has been the subject of several analyst reports. B. Riley Financial raised their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Melius Research raised shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price objective for the company in a report on Monday, April 6th. William Blair raised shares of Amkor Technology to a "neutral" rating in a report on Monday, January 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. Finally, Zacks Research downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Amkor Technology presently has an average rating of "Hold" and an average price target of $62.75.

Insider Activity

In other news, Director Guillaume Marie Jean Rutten sold 20,000 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $48.80, for a total transaction of $976,000.00. Following the sale, the director owned 543,866 shares in the company, valued at approximately $26,540,660.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin K. Engel sold 12,500 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $48.75, for a total transaction of $609,375.00. Following the sale, the chief executive officer owned 2,953 shares in the company, valued at approximately $143,958.75. This trade represents a 80.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 42,500 shares of company stock worth $2,105,225. 26.40% of the stock is currently owned by corporate insiders.

Amkor Technology Stock Up 0.7%

Shares of NASDAQ:AMKR opened at $77.22 on Thursday. The firm has a fifty day moving average price of $54.11 and a two-hundred day moving average price of $46.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The company has a market cap of $19.14 billion, a price-to-earnings ratio of 44.13 and a beta of 2.29. Amkor Technology, Inc. has a one year low of $17.18 and a one year high of $79.23.

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

Amkor Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th were given a dividend of $0.0835 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.33 annualized dividend and a dividend yield of 0.4%. Amkor Technology's dividend payout ratio (DPR) is 18.86%.

About Amkor Technology

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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