PNC Financial Services Group Inc. Sells 1,192 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

PNC Financial Services Group Inc. trimmed its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 22.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,177 shares of the semiconductor company’s stock after selling 1,192 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Amkor Technology were worth $107,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMKR. Neo Ivy Capital Management purchased a new position in shares of Amkor Technology in the third quarter worth $930,000. Geode Capital Management LLC lifted its stake in Amkor Technology by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock worth $64,101,000 after purchasing an additional 131,106 shares in the last quarter. Covea Finance boosted its holdings in shares of Amkor Technology by 47.1% during the 4th quarter. Covea Finance now owns 62,500 shares of the semiconductor company’s stock valued at $1,606,000 after purchasing an additional 20,000 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Amkor Technology during the third quarter valued at about $1,126,000. Finally, Petrus Trust Company LTA bought a new stake in shares of Amkor Technology in the third quarter worth about $606,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMKR has been the subject of a number of research reports. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the company from $34.00 to $30.00 in a research note on Monday, January 6th. B. Riley decreased their price objective on Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Morgan Stanley decreased their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Finally, Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Amkor Technology presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Insider Activity

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the sale, the executive vice president now owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This represents a 79.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Amkor Technology Price Performance

AMKR opened at $19.69 on Wednesday. The business has a fifty day moving average of $22.43 and a 200 day moving average of $25.93. The stock has a market cap of $4.86 billion, a P/E ratio of 13.77 and a beta of 1.88. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. Amkor Technology, Inc. has a 52-week low of $18.87 and a 52-week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. As a group, sell-side analysts anticipate that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be given a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is presently 23.08%.

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.