Covestor Ltd Raises Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Covestor Ltd raised its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 28.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,620 shares of the semiconductor company’s stock after buying an additional 3,468 shares during the period. Amkor Technology comprises about 0.4% of Covestor Ltd’s investment portfolio, making the stock its 20th biggest position. Covestor Ltd’s holdings in Amkor Technology were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in Amkor Technology by 53.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 538,864 shares of the semiconductor company’s stock worth $16,031,000 after acquiring an additional 187,685 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Amkor Technology by 2.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 83,636 shares of the semiconductor company’s stock worth $2,494,000 after buying an additional 1,795 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Amkor Technology by 8.4% during the second quarter. ProShare Advisors LLC now owns 26,379 shares of the semiconductor company’s stock valued at $785,000 after buying an additional 2,052 shares during the period. Citigroup Inc. raised its holdings in shares of Amkor Technology by 49.3% during the second quarter. Citigroup Inc. now owns 74,520 shares of the semiconductor company’s stock valued at $2,217,000 after acquiring an additional 24,600 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Amkor Technology by 1.2% in the second quarter. Swiss National Bank now owns 240,700 shares of the semiconductor company’s stock worth $7,161,000 after acquiring an additional 2,800 shares during the period. Hedge funds and other institutional investors own 38.69% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder James J. Kim sold 10,000,000 shares of Amkor Technology stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $23.22, for a total transaction of $232,200,000.00. Following the transaction, the insider now directly owns 39,594,980 shares of the company’s stock, valued at approximately $919,395,435.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Amkor Technology news, major shareholder James J. Kim sold 10,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $23.22, for a total transaction of $232,200,000.00. Following the sale, the insider now directly owns 39,594,980 shares of the company’s stock, valued at $919,395,435.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $26.19, for a total value of $70,713.00. Following the completion of the transaction, the chief financial officer now owns 35,394 shares in the company, valued at $926,968.86. The disclosure for this sale can be found here. Insiders sold a total of 10,013,100 shares of company stock worth $232,511,953 over the last quarter. 53.30% of the stock is currently owned by corporate insiders.

Amkor Technology Stock Performance

Shares of AMKR traded down $0.16 during mid-day trading on Tuesday, hitting $26.92. 376,696 shares of the company traded hands, compared to its average volume of 1,034,570. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 16.42 and a beta of 1.85. The stock has a 50-day moving average price of $22.90 and a two-hundred day moving average price of $25.16. Amkor Technology, Inc. has a 1 year low of $17.58 and a 1 year high of $31.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.65 and a current ratio of 1.95.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, October 30th. The semiconductor company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Amkor Technology had a net margin of 6.11% and a return on equity of 10.79%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. Equities analysts anticipate that Amkor Technology, Inc. will post 1.39 earnings per share for the current year.

Amkor Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 5th will be issued a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, December 4th. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is currently 18.18%.

Analyst Ratings Changes

AMKR has been the topic of a number of recent research reports. B. Riley started coverage on shares of Amkor Technology in a research report on Thursday, November 16th. They issued a “buy” rating and a $35.00 target price on the stock. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Morgan Stanley assumed coverage on shares of Amkor Technology in a research note on Thursday, November 9th. They issued an “equal weight” rating and a $27.00 price target on the stock. UBS Group initiated coverage on shares of Amkor Technology in a report on Thursday, November 16th. They issued a “buy” rating and a $31.00 price objective for the company. Finally, DA Davidson increased their target price on Amkor Technology from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.25.

About Amkor Technology

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and 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.