Northern Trust Corp Buys 124,671 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Northern Trust Corp boosted its holdings in Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 895,413 shares of the semiconductor company's stock after purchasing an additional 124,671 shares during the quarter. Northern Trust Corp owned approximately 0.36% of Amkor Technology worth $23,003,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Amkor Technology by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company's stock worth $402,414,000 after purchasing an additional 1,092,002 shares during the period. First Trust Advisors LP boosted its holdings in shares of 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. Alliancebernstein L.P. boosted its holdings in shares of Amkor Technology by 15.8% during the fourth quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company's stock valued at $104,853,000 after acquiring an additional 556,761 shares during the period. American Century Companies Inc. boosted its holdings in shares of Amkor Technology by 24.4% during the fourth quarter. American Century Companies Inc. now owns 2,709,002 shares of the semiconductor company's stock valued at $69,594,000 after acquiring an additional 530,771 shares during the period. Finally, Geode Capital Management LLC boosted its holdings 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 acquiring an additional 15,211 shares during the period. Institutional investors and hedge funds own 42.76% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Agnes C. Kim sold 869,565 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares in the company, valued at $218,956,009.50. This represents a 7.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin Engel sold 5,489 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.90% of the company's stock.

Wall Street Analysts Forecast Growth

AMKR has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Amkor Technology from $30.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. DA Davidson reduced their price target on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. KeyCorp reissued a "sector weight" rating on shares of Amkor Technology in a report on Thursday, April 17th. Needham & Company LLC reduced their price target on shares of Amkor Technology from $34.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Morgan Stanley reduced their price objective on shares of Amkor Technology from $24.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology currently has a consensus rating of "Hold" and a consensus target price of $28.00.

Amkor Technology Price Performance

NASDAQ AMKR traded down $0.19 on Friday, reaching $19.73. The company's stock had a trading volume of 1,797,352 shares, compared to its average volume of 1,817,003. Amkor Technology, Inc. has a twelve month low of $14.03 and a twelve month high of $44.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The stock has a market cap of $4.87 billion, a PE ratio of 13.80 and a beta of 1.86. The firm's 50 day moving average is $17.83 and its two-hundred day moving average is $22.44.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. Amkor Technology's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 EPS. As a group, sell-side analysts predict that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.0827 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.33 annualized dividend and a yield of 1.68%. Amkor Technology's payout ratio is presently 25.78%.

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.