Victory Capital Management Inc. Boosts Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Key Points

• Victory Capital Management Inc. has increased its stake in Amkor Technology by 129.9%, holding 122,106 shares valued at approximately $2.21 million as of the latest SEC filing.
• Institutional investors collectively own 42.76% of Amkor Technology's stock, with several significant recent investments and stake increases from firms like Vanguard and JPMorgan Chase.
• Equities analysts have revised their price targets for Amkor Technology, with Morgan Stanley lowering its target from $24.00 to $19.00, reflecting a generally cautious sentiment towards the stock.

Victory Capital Management Inc. increased its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 129.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,106 shares of the semiconductor company's stock after acquiring an additional 69,004 shares during the period. Victory Capital Management Inc.'s holdings in Amkor Technology were worth $2,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company's stock worth $402,414,000 after buying an additional 1,092,002 shares during the period. First Trust Advisors LP lifted its holdings in Amkor Technology by 7.9% during the 4th quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company's stock worth $122,767,000 after buying an additional 350,809 shares during the period. Alliancebernstein L.P. lifted its holdings in Amkor Technology by 15.8% during the 4th quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company's stock worth $104,853,000 after buying an additional 556,761 shares during the period. Geode Capital Management LLC lifted its holdings in Amkor Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company's stock worth $54,209,000 after buying an additional 15,211 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Amkor Technology by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,989,507 shares of the semiconductor company's stock worth $35,931,000 after buying an additional 17,214 shares during the period. Institutional investors own 42.76% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AMKR. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amkor Technology in a report on Tuesday. UBS Group lifted their target price on Amkor Technology from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday. The Goldman Sachs Group began coverage on Amkor Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $20.00 price target on the stock. Needham & Company LLC lifted their price objective on shares of Amkor Technology from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, KeyCorp reissued a "sector weight" rating on shares of Amkor Technology in a research note on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.44.

Insider Activity

In other Amkor Technology news, EVP Mark N. Rogers sold 15,000 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $23.58, for a total transaction of $353,700.00. Following the sale, the executive vice president owned 23,862 shares in the company, valued at $562,665.96. This represents a 38.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 26.90% of the stock is currently owned by corporate insiders.

Amkor Technology Stock Down 2.0%

AMKR stock traded down $0.46 during trading on Friday, reaching $22.10. 742,190 shares of the stock were exchanged, compared to its average volume of 2,150,201. The company has a current ratio of 1.89, a quick ratio of 1.83 and a debt-to-equity ratio of 0.28. The firm's 50 day moving average is $20.75 and its 200 day moving average is $20.39. The firm has a market cap of $5.46 billion, a P/E ratio of 17.98 and a beta of 1.85. Amkor Technology, Inc. has a twelve month low of $14.03 and a twelve month high of $33.85.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its earnings results on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. Amkor Technology had a return on equity of 7.23% and a net margin of 4.80%. Amkor Technology's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, research analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were given a dividend of $0.0827 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.33 annualized dividend and a dividend yield of 1.5%. Amkor Technology's dividend payout ratio is currently 26.83%.

Amkor Technology Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.