Corebridge Financial Inc. Sells 5,655 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Corebridge Financial Inc. cut its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 128,368 shares of the semiconductor company’s stock after selling 5,655 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Amkor Technology worth $3,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AMKR. The Manufacturers Life Insurance Company increased its position in Amkor Technology by 5.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 105,521 shares of the semiconductor company’s stock valued at $3,229,000 after acquiring an additional 5,307 shares in the last quarter. FMR LLC increased its holdings in shares of Amkor Technology by 35.7% in the third quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company’s stock valued at $47,595,000 after purchasing an additional 409,241 shares in the last quarter. BNP Paribas Financial Markets raised its position in Amkor Technology by 510.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 118,579 shares of the semiconductor company’s stock worth $3,629,000 after purchasing an additional 99,143 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Amkor Technology by 7.2% during the 3rd quarter. MetLife Investment Management LLC now owns 58,567 shares of the semiconductor company’s stock worth $1,792,000 after buying an additional 3,956 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Amkor Technology by 5.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,890 shares of the semiconductor company’s stock valued at $8,595,000 after buying an additional 14,389 shares during the last quarter. 42.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Melius Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price objective on shares of Amkor Technology in a report on Tuesday, February 11th. Morgan Stanley reduced their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. B. Riley dropped their price target on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Insider Activity

In related news, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the transaction, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Amkor Technology Trading Down 1.3 %

Shares of NASDAQ AMKR opened at $18.06 on Tuesday. Amkor Technology, Inc. has a twelve month low of $17.61 and a twelve month high of $44.86. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 12.63 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. The company’s fifty day moving average is $21.86 and its 200-day moving average is $25.62.

Amkor Technology (NASDAQ:AMKR) last posted 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 return on equity of 8.59% and a net margin of 5.60%. Equities research analysts predict that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s payout ratio is currently 23.08%.

Amkor Technology Company Profile

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.