Principal Financial Group Inc. Sells 11,728 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Principal Financial Group Inc. reduced its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 2.6% during the 2nd quarter, Holdings Channel reports. The firm owned 435,440 shares of the semiconductor company’s stock after selling 11,728 shares during the period. Principal Financial Group Inc.’s holdings in Amkor Technology were worth $17,426,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AMKR. Vanguard Group Inc. boosted its holdings in Amkor Technology by 1.5% during the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after buying an additional 219,638 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Amkor Technology by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,860,585 shares of the semiconductor company’s stock worth $494,421,000 after acquiring an additional 244,026 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amkor Technology by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,852,309 shares of the semiconductor company’s stock valued at $61,626,000 after purchasing an additional 141,725 shares during the period. Goldman Sachs Group Inc. increased its stake in Amkor Technology by 4.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock valued at $46,927,000 after purchasing an additional 63,104 shares in the last quarter. Finally, Norges Bank acquired a new stake in Amkor Technology in the fourth quarter worth $39,224,000. 42.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMKR. Morgan Stanley upped their price objective on shares of Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 2nd. Needham & Company LLC lifted their price target on Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. B. Riley boosted their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, JPMorgan Chase & Co. started coverage on Amkor Technology in a research note on Monday, July 1st. They set an “overweight” rating and a $48.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.14.

Insider Activity at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $42.94, for a total value of $1,073,500.00. Following the sale, the chief executive officer now owns 128,333 shares of the company’s stock, valued at approximately $5,510,619.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the sale, the chief executive officer now directly owns 128,333 shares in the company, valued at approximately $5,510,619.02. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by insiders.

Amkor Technology Price Performance

Amkor Technology stock opened at $29.69 on Thursday. The firm has a market cap of $7.30 billion, a PE ratio of 19.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83. The stock’s fifty day moving average price is $35.72 and its two-hundred day moving average price is $33.76. Amkor Technology, Inc. has a one year low of $17.58 and a one year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business earned $0.26 earnings per share. Amkor Technology’s revenue was up .2% on a year-over-year basis. As a group, research analysts expect that Amkor Technology, Inc. will post 1.53 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd will be given a dividend of $0.079 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. Amkor Technology’s dividend payout ratio is 20.39%.

About Amkor Technology

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.