Talos Eurisko Asset Management LP Makes New Investment in Amkor Technology, Inc. $AMKR

Key Points

• Talos Eurisko Asset Management opened a new position in Amkor Technology, buying 280,400 shares worth about $11.1 million in the fourth quarter. The stake represented about 2% of the fund’s portfolio and roughly 0.11% of Amkor’s shares outstanding.
• Amkor Technology reported better-than-expected quarterly results, with EPS of $0.33 versus the $0.23 estimate and revenue of $1.68 billion, up 27.5% year over year. Analysts currently expect full-year EPS of 2.08.
• The company also announced a quarterly dividend of $0.0835 per share, payable June 23, while Wall Street’s overall view remains cautious with a Hold consensus rating and a $67.38 price target. Insider selling has also been notable, with directors trimming holdings in recent transactions.

Talos Eurisko Asset Management LP acquired a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 280,400 shares of the semiconductor company's stock, valued at approximately $11,070,000. Amkor Technology comprises about 2.0% of Talos Eurisko Asset Management LP's portfolio, making the stock its 20th biggest holding. Talos Eurisko Asset Management LP owned 0.11% of Amkor Technology as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Amkor Technology by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 15,779,847 shares of the semiconductor company's stock worth $448,148,000 after acquiring an additional 687,900 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Amkor Technology by 18.4% in the 3rd 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 last quarter. American Century Companies Inc. boosted its holdings in shares of Amkor Technology by 0.5% in the 3rd 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 last quarter. State Street Corp boosted its holdings in shares of Amkor Technology by 1.4% in the 4th quarter. State Street Corp now owns 3,473,925 shares of the semiconductor company's stock worth $137,151,000 after buying an additional 47,514 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Amkor Technology by 37.4% in the 4th quarter. First Trust Advisors LP now owns 2,722,310 shares of the semiconductor company's stock worth $107,477,000 after buying an additional 740,701 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Stock Up 3.2%

Shares of NASDAQ:AMKR opened at $85.44 on Tuesday. The firm has a fifty day moving average price of $68.74 and a two-hundred day moving average price of $53.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. Amkor Technology, Inc. has a one year low of $19.79 and a one year high of $88.64. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 48.82 and a beta of 2.25.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $0.09 EPS. The business's quarterly revenue was up 27.5% compared to the same quarter last year. 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 will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a $0.0835 dividend. This represents a $0.33 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's dividend payout ratio is 18.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMKR. Wall Street Zen downgraded shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Zacks Research downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Needham & Company LLC boosted their price target on shares of Amkor Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Weiss Ratings restated a "hold (c)" rating on shares of Amkor Technology in a research note on Monday, April 20th. Finally, UBS Group restated a "neutral" rating and issued a $80.00 price objective on shares of Amkor Technology in a research note on Tuesday, May 26th. 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, the company currently has a consensus rating of "Hold" and a consensus price target of $67.38.

Insider Buying and Selling

In related news, Director Gil C. Tily sold 15,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the transaction, the director directly owned 108,806 shares in the company, valued at approximately $8,410,703.80. This represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger Anthony Carolin sold 20,000 shares of the company'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 transaction, the director owned 94,409 shares in the company, valued at approximately $7,197,742.16. This trade represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 109,000 shares of company stock valued at $8,106,550 in the last 90 days. 26.40% of the stock is owned by company insiders.

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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