1492 Capital Management LLC Reduces Position in Amkor Technology, Inc. $AMKR

1492 Capital Management LLC reduced its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 29.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,278 shares of the semiconductor company’s stock after selling 20,235 shares during the quarter. 1492 Capital Management LLC’s holdings in Amkor Technology were worth $2,219,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMKR. O Shaughnessy Asset Management LLC grew its holdings in shares of Amkor Technology by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,799 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 202 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Amkor Technology by 0.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 36,221 shares of the semiconductor company’s stock worth $1,430,000 after purchasing an additional 218 shares in the last quarter. Evolve Private Wealth LLC grew its holdings in Amkor Technology by 3.0% during the 1st quarter. Evolve Private Wealth LLC now owns 7,615 shares of the semiconductor company’s stock worth $343,000 after acquiring an additional 222 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 262 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Amkor Technology by 11.3% during the fourth quarter. Signaturefd LLC now owns 2,644 shares of the semiconductor company’s stock worth $104,000 after acquiring an additional 269 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

Insider Buying and Selling

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $71.63, for a total transaction of $358,150.00. Following the transaction, the executive vice president owned 38,904 shares of the company’s stock, valued at approximately $2,786,693.52. This trade represents a 11.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Winston J. Churchill sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.45, for a total transaction of $535,150.00. Following the completion of the sale, the director directly owned 18,888 shares of the company’s stock, valued at approximately $1,443,987.60. This represents a 27.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 119,000 shares of company stock valued at $8,928,600. Company insiders own 26.40% of the company’s stock.

Amkor Technology Stock Down 8.1%

Shares of NASDAQ AMKR opened at $78.72 on Friday. The stock’s 50-day simple moving average is $74.59 and its 200-day simple moving average is $56.80. Amkor Technology, Inc. has a 1 year low of $20.59 and a 1 year high of $96.68. The firm has a market cap of $19.51 billion, a price-to-earnings ratio of 44.98 and a beta of 2.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, equities analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMKR shares. Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, April 6th. Morgan Stanley increased their price objective on Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. The Goldman Sachs Group increased their price target on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. B. Riley Financial upped their price target on Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, UBS Group restated a “neutral” rating and issued a $80.00 price objective on shares of Amkor Technology in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.88.

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.