Prudential Financial Inc. Lowers Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Prudential Financial Inc. reduced its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 167,266 shares of the semiconductor company’s stock after selling 29,502 shares during the period. Prudential Financial Inc. owned approximately 0.07% of Amkor Technology worth $4,297,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Amkor Technology in the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp raised its position in Amkor Technology by 353.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 1,160 shares during the period. Quarry LP lifted its stake in Amkor Technology by 421.8% during the third quarter. Quarry LP now owns 3,136 shares of the semiconductor company’s stock worth $96,000 after purchasing an additional 2,535 shares in the last quarter. Blue Trust Inc. lifted its stake in Amkor Technology by 36.9% during the fourth quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 922 shares in the last quarter. Finally, 1620 Investment Advisors Inc. boosted its position in shares of Amkor Technology by 24.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,768 shares of the semiconductor company’s stock worth $122,000 after buying an additional 942 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the sale, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction 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 represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Amkor Technology Trading Up 0.3 %

NASDAQ:AMKR opened at $18.11 on Wednesday. Amkor Technology, Inc. has a 1 year low of $17.61 and a 1 year high of $44.86. The stock has a market cap of $4.47 billion, a P/E ratio of 12.66 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The stock has a 50-day simple moving average of $21.68 and a 200-day simple moving average of $25.53.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating the consensus estimate 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, analysts anticipate that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 1.83%. Amkor Technology’s dividend payout ratio is presently 23.08%.

Analysts Set New Price Targets

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

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.