Westwood Holdings Group Inc. Decreases Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Key Points

• Westwood Holdings Group Inc. significantly reduced its holdings in Amkor Technology by 98.1%, selling over 1.2 million shares, leaving them with only 23,832 shares valued at approximately $430,000.
• Multiple large investors have recently altered their positions in Amkor Technology, with UG Investment Advisers Ltd. acquiring a new position worth about $21 million, while Ceredex Value Advisors LLC increased its holdings by 30.8%.
• Amkor Technology reported a quarterly earnings per share of $0.22, which exceeded the expected $0.16, and announced a quarterly dividend yielding approximately 1.4%.

Westwood Holdings Group Inc. trimmed its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 98.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 23,832 shares of the semiconductor company's stock after selling 1,205,063 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Amkor Technology were worth $430,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMKR. First Trust Advisors LP raised its holdings in Amkor Technology by 7.9% during the fourth quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company's stock valued at $122,767,000 after acquiring an additional 350,809 shares during the period. Geode Capital Management LLC boosted its stake in shares of Amkor Technology by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company's stock valued at $54,209,000 after purchasing an additional 15,211 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Amkor Technology by 0.9% during the first quarter. Principal Financial Group Inc. now owns 1,989,507 shares of the semiconductor company's stock valued at $35,931,000 after purchasing an additional 17,214 shares during the period. Ceredex Value Advisors LLC boosted its stake in shares of Amkor Technology by 30.8% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,821,700 shares of the semiconductor company's stock valued at $46,799,000 after purchasing an additional 429,200 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Amkor Technology by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 1,529,348 shares of the semiconductor company's stock worth $39,289,000 after acquiring an additional 395,242 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMKR has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Amkor Technology from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Morgan Stanley reiterated an "equal weight" rating on shares of Amkor Technology in a research report on Tuesday, July 29th. B. Riley increased their price objective on Amkor Technology from $18.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. UBS Group increased their price objective on shares of Amkor Technology from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group assumed coverage on Amkor Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $20.00 target price for the company. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.44.

Amkor Technology Trading Up 4.8%

AMKR stock traded up $1.10 during midday trading on Tuesday, hitting $24.25. 690,304 shares of the company's stock were exchanged, compared to its average volume of 2,161,927. Amkor Technology, Inc. has a one year low of $14.03 and a one year high of $33.85. The stock's fifty day moving average price is $21.33 and its 200-day moving average price is $20.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.70 and a current ratio of 1.89. The company has a market cap of $5.99 billion, a PE ratio of 19.65 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its earnings results on Monday, July 28th. The semiconductor company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $1.51 billion for 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%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 EPS. Research analysts predict that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared 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 of this dividend was Thursday, June 5th. This represents a $0.33 dividend on an annualized basis and a yield of 1.4%. Amkor Technology's dividend payout ratio is presently 26.83%.

Insider Buying and Selling at Amkor Technology

In related news, EVP Mark N. Rogers sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $23.58, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder John T. Kim purchased 441,589 shares of the company's stock in a transaction dated Friday, August 1st. The stock was purchased at an average price of $21.85 per share, for a total transaction of $9,648,719.65. Following the completion of the purchase, the insider owned 3,789,479 shares in the company, valued at approximately $82,800,116.15. The trade was a 13.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. 26.90% of the stock is currently owned by corporate insiders.

Amkor Technology Company 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.