Assenagon Asset Management S.A. Buys New Shares in Amkor Technology, Inc. $AMKR

Assenagon Asset Management S.A. purchased a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 76,398 shares of the semiconductor company’s stock, valued at approximately $3,440,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Amkor Technology by 100.6% in the 1st quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock worth $349,000 after purchasing an additional 3,454,012 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Amkor Technology by 204.5% during the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company’s stock valued at $82,712,000 after buying an additional 1,407,109 shares in the last quarter. Norges Bank purchased a new position in shares of Amkor Technology during the 4th quarter valued at about $53,702,000. Arrowstreet Capital Limited Partnership lifted its position in Amkor Technology by 305.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,574,607 shares of the semiconductor company’s stock worth $44,719,000 after buying an additional 1,186,313 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Amkor Technology by 38.3% in the 2nd quarter. AQR Capital Management LLC now owns 3,558,040 shares of the semiconductor company’s stock worth $74,541,000 after buying an additional 985,727 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Up 4.6%

Shares of NASDAQ AMKR opened at $82.34 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. Amkor Technology, Inc. has a 52 week low of $20.59 and a 52 week high of $96.68. The firm’s fifty day moving average is $74.98 and its 200 day moving average is $57.15. The company has a market cap of $20.41 billion, a price-to-earnings ratio of 47.05 and a beta of 2.25.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly 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. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. On average, equities research analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were paid a $0.0835 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.33 annualized dividend and a dividend yield of 0.4%. Amkor Technology’s dividend payout ratio (DPR) is presently 18.86%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMKR. UBS Group reiterated a “neutral” rating and set a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 21st. 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. Finally, B. Riley Financial boosted their price target on shares of Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday. Four research 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 has an average rating of “Hold” and a consensus price target of $69.88.

Insider Activity at Amkor Technology

In other Amkor Technology news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the transaction, the director owned 502,558 shares of the company’s stock, valued at $37,330,008.24. This represents a 9.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roger Anthony Carolin sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.24, for a total value of $1,524,800.00. Following the completion of the sale, the director owned 94,409 shares of the company’s stock, valued at approximately $7,197,742.16. This trade represents a 17.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 119,000 shares of company stock worth $8,928,600 over the last 90 days. 26.40% of the stock is owned by insiders.

Amkor Technology Company Profile

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.