Navellier & Associates Inc. Cuts Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Navellier & Associates Inc. decreased its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 20.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,418 shares of the semiconductor company’s stock after selling 3,406 shares during the period. Navellier & Associates Inc.’s holdings in Amkor Technology were worth $411,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital World Investors purchased a new position in shares of Amkor Technology in the 1st quarter worth $9,288,000. Vanguard Group Inc. grew its holdings in shares of Amkor Technology by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after purchasing an additional 219,638 shares during the period. Valley Wealth Managers Inc. increased its position in Amkor Technology by 115.1% during the 3rd quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock worth $22,359,000 after purchasing an additional 391,002 shares in the last quarter. Tidal Investments LLC purchased a new position in Amkor Technology in the first quarter valued at approximately $584,000. Finally, Public Employees Retirement System of Ohio grew its stake in Amkor Technology by 282.7% during the first quarter. Public Employees Retirement System of Ohio now owns 29,787 shares of the semiconductor company’s stock worth $960,000 after buying an additional 22,003 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the transaction, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This represents a 50.16 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $26.35 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 17.80 and a beta of 1.85. Amkor Technology, Inc. has a one year low of $24.10 and a one year high of $44.86. The company’s 50-day simple moving average is $28.93 and its 200-day simple moving average is $32.73.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. Amkor Technology’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. Equities analysts anticipate that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.0827 per share. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 4th. This represents a $0.33 annualized dividend and a yield of 1.26%. Amkor Technology’s payout ratio is presently 20.95%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMKR. KeyCorp reduced their target price on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. DA Davidson lowered their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley reduced their price target on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. The Goldman Sachs Group decreased their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Finally, StockNews.com cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.29.

Amkor Technology 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.