Amkor Technology, Inc. (NASDAQ:AMKR) Major Shareholder Acquires $9,648,719.65 in Stock

Amkor Technology, Inc. (NASDAQ:AMKR) major shareholder Sujoda Management, Llc purchased 441,589 shares of the stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $21.85 per share, for a total transaction of $9,648,719.65. Following the completion of the acquisition, the insider owned 3,789,479 shares in the company, valued at $82,800,116.15. This represents a 13.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Amkor Technology Stock Up 0.2%

Shares of Amkor Technology stock opened at $22.21 on Thursday. Amkor Technology, Inc. has a 12-month low of $14.03 and a 12-month high of $33.85. The company has a quick ratio of 1.70, a current ratio of 1.89 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $21.04 and a two-hundred day moving average price of $20.30. The stock has a market capitalization of $5.49 billion, a P/E ratio of 18.06 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Amkor Technology had a net margin of 4.80% and a return on equity of 7.23%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $0.27 EPS. Amkor Technology’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts expect that Amkor Technology, Inc. will post 1.47 earnings per share for the current year.

Amkor Technology Dividend Announcement

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

Institutional Trading of Amkor Technology

Several hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. grew its stake in shares of Amkor Technology by 1,050.4% in the second quarter. Hantz Financial Services Inc. now owns 1,369 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,250 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Amkor Technology during the first quarter worth about $27,000. Bessemer Group Inc. increased its stake in Amkor Technology by 421.0% during the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 1,242 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Amkor Technology by 416.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,602 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 1,292 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Amkor Technology by 677.0% in the 1st quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 1,530 shares during the period. Institutional investors own 42.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMKR shares. B. Riley lifted their price objective on Amkor Technology from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. KeyCorp reiterated a “sector weight” rating on shares of Amkor Technology in a report on Thursday, April 17th. The Goldman Sachs Group initiated coverage on Amkor Technology in a report on Thursday, July 10th. They issued a “neutral” rating and a $20.00 price objective on the stock. DA Davidson cut their price objective on shares of Amkor Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Finally, UBS Group lifted their target price on shares of Amkor Technology from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Seven equities research 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 company has a consensus rating of “Hold” and an average target price of $26.44.

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.