Focus Partners Wealth Cuts Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Focus Partners Wealth cut its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 248,393 shares of the semiconductor company’s stock after selling 54,361 shares during the quarter. Focus Partners Wealth owned approximately 0.10% of Amkor Technology worth $6,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Covea Finance lifted its position in shares of Amkor Technology by 47.1% in the 4th quarter. Covea Finance now owns 62,500 shares of the semiconductor company’s stock worth $1,606,000 after purchasing an additional 20,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of Amkor Technology by 0.7% in the 4th 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. Raymond James Financial Inc. bought a new position in shares of Amkor Technology in the 4th quarter worth $5,666,000. Blue Trust Inc. boosted its position in Amkor Technology by 36.9% during the fourth quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 922 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Amkor Technology by 212.6% in 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 buying an additional 925,644 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AMKR shares. DA Davidson cut their price target on shares of Amkor Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. 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 research report on Tuesday, April 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Amkor Technology in a report on Thursday, April 17th. Morgan Stanley cut their price target on Amkor Technology from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. dropped their target price on Amkor Technology from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.00.

Insider Transactions at Amkor Technology

In other news, EVP Kevin Engel sold 5,489 shares of Amkor Technology stock in a transaction on Tuesday, February 25th. The stock was 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 in the company, valued at $30,105.72. The trade was a 79.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.90% of the company’s stock.

Amkor Technology Stock Up 2.1%

Shares of AMKR opened at $20.05 on Wednesday. The firm has a market cap of $4.95 billion, a P/E ratio of 14.02 and a beta of 1.86. Amkor Technology, Inc. has a 12 month low of $14.03 and a 12 month high of $44.86. The stock’s 50 day moving average is $17.84 and its two-hundred day moving average is $22.63. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. Analysts predict that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were given a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is 25.78%.

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.