Vanguard Group Inc. Sells 75,675 Shares of Amkor Technology, Inc. $AMKR

Key Points

• Vanguard Group trimmed its Amkor position by 0.5%, selling 75,675 shares and now holds 15,704,172 shares (about 6.35% of the company) valued at roughly $620 million.
• Q1 beat: Amkor reported $0.33 EPS versus $0.23 expected and $1.68 billion in revenue (vs. $1.63 billion), with revenue up 27.5% year-over-year.
• Despite the earnings beat, analysts' consensus remains a "Hold" with an average price target of $62.75, and insiders have recently sold shares (42,500 in the past 90 days) while owning 26.4% of the stock.

Vanguard Group Inc. trimmed its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,704,172 shares of the semiconductor company's stock after selling 75,675 shares during the quarter. Vanguard Group Inc. owned 6.35% of Amkor Technology worth $620,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Optas LLC bought a new position in shares of Amkor Technology during the 4th quarter valued at $207,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Amkor Technology by 32.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,403 shares of the semiconductor company's stock worth $1,832,000 after purchasing an additional 11,334 shares during the period. Bayforest Capital Ltd raised its holdings in Amkor Technology by 29.9% in the 4th quarter. Bayforest Capital Ltd now owns 9,992 shares of the semiconductor company's stock worth $394,000 after purchasing an additional 2,298 shares during the period. GF Fund Management CO. LTD. bought a new position in Amkor Technology in the 4th quarter worth $4,868,000. Finally, GHP Investment Advisors Inc. raised its holdings in Amkor Technology by 3.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 89,802 shares of the semiconductor company's stock worth $3,545,000 after purchasing an additional 2,931 shares during the period. 42.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMKR. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. B. Riley Financial raised their target price on Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Wall Street Zen cut Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Melius Research raised Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 target price on the stock in a report on Monday, April 6th. Finally, UBS Group set a $43.00 target price on Amkor Technology in a report on Tuesday, February 10th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $62.75.

Amkor Technology Price Performance

NASDAQ:AMKR opened at $71.09 on Monday. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The business's 50-day simple moving average is $52.93 and its two-hundred day simple moving average is $45.59. The stock has a market cap of $17.62 billion, a PE ratio of 40.62 and a beta of 2.29. Amkor Technology, Inc. has a 52 week low of $17.18 and a 52 week high of $79.23.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted 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 business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The business's quarterly revenue was up 27.5% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. As a group, analysts forecast that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th were issued a dividend of $0.0835 per share. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.33 dividend on an annualized basis and a yield of 0.5%. Amkor Technology's dividend payout ratio (DPR) is currently 18.86%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, Director Guillaume Marie Jean Rutten sold 20,000 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $48.80, for a total transaction of $976,000.00. Following the sale, the director directly owned 543,866 shares of the company's stock, valued at $26,540,660.80. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin K. Engel sold 12,500 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $48.75, for a total value of $609,375.00. Following the sale, the chief executive officer directly owned 2,953 shares in the company, valued at approximately $143,958.75. This represents a 80.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,500 shares of company stock valued at $2,105,225 over the last ninety days. 26.40% of the stock is currently 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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