Geode Capital Management LLC Has $64.10 Million Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Geode Capital Management LLC boosted its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,094,296 shares of the semiconductor company’s stock after purchasing an additional 131,106 shares during the quarter. Geode Capital Management LLC’s holdings in Amkor Technology were worth $64,101,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Valley Wealth Managers Inc. raised its position in shares of Amkor Technology by 115.1% during the third quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock valued at $22,359,000 after buying an additional 391,002 shares during the last quarter. Intech Investment Management LLC acquired a new position in Amkor Technology in the 2nd quarter valued at approximately $874,000. General American Investors Co. Inc. bought a new stake in shares of Amkor Technology in the 3rd quarter worth approximately $3,060,000. Chase Investment Counsel Corp acquired a new stake in shares of Amkor Technology during the 2nd quarter worth approximately $3,481,000. Finally, Principal Financial Group Inc. increased its position in shares of Amkor Technology by 212.6% during the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after purchasing an additional 925,644 shares during the period. 42.76% of the stock is owned by institutional investors.

Amkor Technology Price Performance

Shares of Amkor Technology stock opened at $25.27 on Friday. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 17.07 and a beta of 1.84. The firm’s 50-day moving average price is $27.19 and its two-hundred day moving average price is $31.78. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Amkor Technology, Inc. has a 1-year low of $24.10 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. On average, equities analysts predict that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, December 4th will be given a dividend of $0.0827 per share. This is an increase 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 1.31%. Amkor Technology’s dividend payout ratio is 22.30%.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This represents a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMKR. JPMorgan Chase & Co. reduced their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. DA Davidson reduced their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Morgan Stanley lowered their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group cut their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Finally, Needham & Company LLC lowered their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Amkor Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.29.

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.