Varma Mutual Pension Insurance Co Lowers Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Varma Mutual Pension Insurance Co reduced its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 52.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,400 shares of the semiconductor company’s stock after selling 177,000 shares during the period. Varma Mutual Pension Insurance Co owned 0.07% of Amkor Technology worth $6,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMKR. Norges Bank bought a new stake in shares of Amkor Technology during the 4th quarter worth $39,224,000. Vanguard Group Inc. boosted its stake in Amkor Technology by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock valued at $490,965,000 after acquiring an additional 959,838 shares during the last quarter. Boston Partners grew its position in shares of Amkor Technology by 181.6% during the 4th quarter. Boston Partners now owns 622,144 shares of the semiconductor company’s stock valued at $20,692,000 after acquiring an additional 401,218 shares during the period. M&G Plc purchased a new stake in shares of Amkor Technology during the 1st quarter worth approximately $11,435,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Amkor Technology during the 1st quarter worth approximately $10,034,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMKR. B. Riley increased their price objective on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Morgan Stanley lifted their price objective on Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 2nd. Needham & Company LLC upped their price objective on shares of Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. started coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 target price for the company. Three equities 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 has a consensus rating of “Moderate Buy” and a consensus price target of $41.14.

Amkor Technology Price Performance

AMKR stock opened at $28.68 on Tuesday. The firm has a 50 day moving average of $35.07 and a 200-day moving average of $33.75. The firm has a market capitalization of $7.07 billion, a P/E ratio of 18.87 and a beta of 1.85. Amkor Technology, Inc. has a 12 month low of $17.58 and a 12 month high of $44.86. The company has a current ratio of 2.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23.

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

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.079 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. Amkor Technology’s dividend payout ratio (DPR) is presently 20.39%.

Insider Transactions at Amkor Technology

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

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.