Three Seasons Wealth LLC Takes Position in Amkor Technology, Inc. $AMKR

Key Points

• Three Seasons Wealth LLC initiated a new position in Amkor Technology during the first quarter, buying 15,632 shares worth about $704,000.
• Amkor reported strong Q1 results, with EPS of $0.33 beating estimates and revenue of $1.68 billion topping expectations; revenue also rose 27.5% year over year.
• The stock has drawn mixed signals from Wall Street and insiders: analysts currently have a Hold consensus with an average target of $69.88, while insiders have sold shares recently, including a director and the CFO.

Three Seasons Wealth LLC purchased a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 15,632 shares of the semiconductor company's stock, valued at approximately $704,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada grew its position in 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 acquiring an additional 3,454,012 shares during the last quarter. Advisors Asset Management Inc. lifted 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 worth $40,000 after acquiring an additional 854 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $136,000 after acquiring an additional 6,768 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Amkor Technology by 73.4% in the 1st 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 in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Amkor Technology in the 1st quarter valued at approximately $271,000. 42.76% of the stock is currently owned by institutional investors.

Amkor Technology Stock Down 3.6%

Shares of NASDAQ:AMKR opened at $67.64 on Thursday. The firm has a market cap of $16.77 billion, a P/E ratio of 38.65 and a beta of 2.20. Amkor Technology, Inc. has a 12-month low of $20.59 and a 12-month high of $96.68. The business has a fifty day simple moving average of $74.63 and a 200 day simple moving average of $59.62. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.10. The firm had revenue of $1.68 billion for 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 business's revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. Analysts predict that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were issued a $0.0835 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.33 annualized dividend and a yield of 0.5%. Amkor Technology's dividend payout ratio is presently 18.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. B. Riley Financial upped their price objective on shares of Amkor Technology from $70.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, June 25th. Morgan Stanley raised their target price on shares of Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a research 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 target price on the stock in a research note on Monday, April 6th. Wall Street Zen downgraded shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Finally, 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 research note on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $69.88.

Insiders Place Their Bets

In other Amkor Technology news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the sale, the director owned 502,558 shares of the company's stock, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Megan Faust sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $70.30, for a total transaction of $70,300.00. Following the transaction, the chief financial officer owned 132,138 shares of the company's stock, valued at approximately $9,289,301.40. The trade was a 0.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 114,000 shares of company stock valued at $8,631,450 over the last three months. Insiders own 26.40% of the company's stock.

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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