Royce & Associates LP Sells 209,712 Shares of Amkor Technology, Inc. $AMKR

Key Points

• Royce & Associates LP cut its Amkor Technology stake by 31.7% in the fourth quarter, selling 209,712 shares and ending with 452,029 shares valued at about $17.8 million.
• Amkor Technology posted strong quarterly results, reporting EPS of $0.33 versus expectations of $0.23 and revenue of $1.68 billion, up 27.5% year over year.
• Insiders have also been selling shares, including EVP Mark N. Rogers and Director Gil C. Tily, while analysts currently rate the stock a consensus “Hold” with an average price target of $67.38.

Royce & Associates LP reduced its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 31.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 452,029 shares of the semiconductor company's stock after selling 209,712 shares during the period. Royce & Associates LP owned about 0.18% of Amkor Technology worth $17,846,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in shares of Amkor Technology by 11.3% in the fourth quarter. Signaturefd LLC now owns 2,644 shares of the semiconductor company's stock worth $104,000 after acquiring an additional 269 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Amkor Technology by 72.1% in the third quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 391 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Amkor Technology by 91.2% in the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 447 shares during the last quarter. Vest Financial LLC raised its stake in shares of Amkor Technology by 6.8% in the fourth quarter. Vest Financial LLC now owns 7,777 shares of the semiconductor company's stock worth $307,000 after acquiring an additional 493 shares during the last quarter. Finally, Ulland Investment Advisors LLC grew its position in shares of Amkor Technology by 2.8% during the 3rd quarter. Ulland Investment Advisors LLC now owns 18,260 shares of the semiconductor company's stock worth $519,000 after buying an additional 500 shares during the period. 42.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. B. Riley Financial lifted their price target on shares of Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Melius Research upgraded shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a research report on Monday, April 6th. JPMorgan Chase & Co. lifted their price target on shares of Amkor Technology from $32.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Amkor Technology in a research report on Monday, April 20th. Finally, UBS Group reiterated a "neutral" rating and set a $80.00 price target on shares of Amkor Technology in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Amkor Technology currently has an average rating of "Hold" and an average target price of $67.38.

Insiders Place Their Bets

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $71.63, for a total transaction of $358,150.00. Following the sale, the executive vice president directly owned 38,904 shares of the company's stock, valued at approximately $2,786,693.52. This represents a 11.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gil C. Tily sold 15,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the sale, the director directly owned 108,806 shares in the company, valued at $8,410,703.80. This trade represents a 12.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,000 shares of company stock valued at $8,258,950 over the last 90 days. 26.40% of the stock is currently owned by company insiders.

Amkor Technology Stock Up 11.7%

Shares of NASDAQ AMKR opened at $73.46 on Wednesday. The stock has a market cap of $18.21 billion, a P/E ratio of 41.98 and a beta of 2.29. The firm has a 50 day moving average price of $61.14 and a 200 day moving average price of $49.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. Amkor Technology, Inc. has a 52-week low of $17.79 and a 52-week high of $79.23.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.10. The firm had revenue of $1.68 billion during 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 revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. Analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be given a $0.0835 dividend. 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 currently 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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