Raymond James Financial Inc. Purchases New Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Raymond James Financial Inc. purchased a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 220,571 shares of the semiconductor company's stock, valued at approximately $5,666,000. Raymond James Financial Inc. owned 0.09% of Amkor Technology as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of AMKR. MML Investors Services LLC bought a new position in Amkor Technology during the 3rd quarter valued at about $267,000. Barclays PLC raised its holdings in shares of Amkor Technology by 99.5% in the third quarter. Barclays PLC now owns 405,400 shares of the semiconductor company's stock worth $12,406,000 after buying an additional 202,218 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Amkor Technology by 7.9% during the 3rd quarter. Retirement Systems of Alabama now owns 137,679 shares of the semiconductor company's stock worth $4,213,000 after acquiring an additional 10,069 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company's stock valued at $41,647,000 after acquiring an additional 925,644 shares during the period. Finally, Covea Finance grew its position in Amkor Technology by 47.1% in the 4th quarter. Covea Finance now owns 62,500 shares of the semiconductor company's stock valued at $1,606,000 after acquiring an additional 20,000 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Stock Up 2.5 %

Amkor Technology stock traded up $0.43 during mid-day trading on Wednesday, reaching $17.45. 2,875,111 shares of the company were exchanged, compared to its average volume of 1,764,808. 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 firm has a market cap of $4.31 billion, a P/E ratio of 12.20 and a beta of 1.88. The business has a fifty day moving average of $18.33 and a 200 day moving average of $23.42. Amkor Technology, Inc. has a 12-month low of $14.03 and a 12-month high of $44.86.

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

Amkor Technology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were given a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.90%. Amkor Technology's payout ratio is 23.08%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMKR shares. JPMorgan Chase & Co. decreased their target price on Amkor Technology from $30.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday. Morgan Stanley decreased 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. Needham & Company LLC dropped their target price on shares of Amkor Technology from $34.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday. Melius downgraded shares of Amkor Technology from a "buy" rating to a "hold" rating and decreased their price target for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Finally, B. Riley cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 21st. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.00.

Insider Buying and Selling at Amkor Technology

In other news, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the sale, 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 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, EVP Kevin Engel sold 5,489 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the transaction, the executive vice president now owns 1,388 shares of the company's stock, valued at $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.90% of the stock is currently owned by company insiders.

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.