AI Squared Management Ltd Acquires 33,400 Shares of Amkor Technology, Inc. $AMKR

AI Squared Management Ltd boosted its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 51.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 98,200 shares of the semiconductor company’s stock after acquiring an additional 33,400 shares during the period. Amkor Technology comprises approximately 4.5% of AI Squared Management Ltd’s holdings, making the stock its 9th largest position. AI Squared Management Ltd’s holdings in Amkor Technology were worth $3,877,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AMKR. Royal Bank of Canada raised its holdings in Amkor Technology by 100.6% during the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock worth $349,000 after buying an additional 3,454,012 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after buying an additional 854 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Amkor Technology by 913.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company’s stock worth $136,000 after buying an additional 6,768 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Amkor Technology by 73.4% during the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company’s stock worth $9,476,000 after buying an additional 222,107 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in Amkor Technology during the first quarter worth $271,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AMKR. B. Riley Financial increased their target price on shares of Amkor Technology from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Amkor Technology in a report on Monday, April 20th. The Goldman Sachs Group increased their target price on shares of Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Melius Research upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, April 6th. Finally, Needham & Company LLC increased their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amkor Technology currently has an average rating of “Hold” and an average target price of $67.38.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR opened at $76.15 on Friday. The firm has a market capitalization of $18.88 billion, a PE ratio of 43.51 and a beta of 2.25. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $67.24 and a two-hundred day moving average price of $53.20. Amkor Technology, Inc. has a twelve month low of $19.79 and a twelve month high of $79.50.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.23 by $0.10. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. Amkor Technology’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. Equities analysts forecast that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.0835 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $0.33 annualized dividend and a dividend yield of 0.4%. Amkor Technology’s dividend payout ratio is currently 18.86%.

Insider Buying and Selling

In other news, Director Roger Anthony Carolin sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total value of $1,524,800.00. Following the completion of the transaction, the director directly owned 94,409 shares in the company, valued at approximately $7,197,742.16. This trade represents a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gil C. Tily sold 15,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the transaction, the director directly owned 108,806 shares of the company’s stock, valued at approximately $8,410,703.80. The trade was a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,000 shares of company stock valued at $8,329,250 in the last three months. Insiders own 26.40% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.