Amalgamated Bank Raises Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Amalgamated Bank raised its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 22.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,467 shares of the semiconductor company’s stock after buying an additional 12,018 shares during the quarter. Amalgamated Bank’s holdings in Amkor Technology were worth $2,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Amkor Technology during the second quarter worth approximately $31,000. Pineridge Advisors LLC purchased a new stake in shares of Amkor Technology during the fourth quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Amkor Technology during the second quarter worth approximately $40,000. Larson Financial Group LLC raised its stake in shares of Amkor Technology by 911.3% during the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Amkor Technology during the second quarter worth approximately $52,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

AMKR has been the subject of several analyst reports. Morgan Stanley upped their price target on Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. started coverage on Amkor Technology in a report on Monday, July 1st. They issued an “overweight” rating and a $48.00 price target for the company. B. Riley raised their price target on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC raised their price target on Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, KeyCorp started coverage on Amkor Technology in a report on Friday, September 20th. They issued an “overweight” rating and a $38.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

Amkor Technology Stock Performance

NASDAQ AMKR opened at $30.40 on Wednesday. Amkor Technology, Inc. has a 1-year low of $17.58 and a 1-year high of $44.86. The company has a market capitalization of $7.47 billion, a P/E ratio of 20.00 and a beta of 1.85. The business has a 50 day moving average price of $32.59 and a 200 day moving average price of $33.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83.

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

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 1.04%. The ex-dividend date was Tuesday, September 3rd. Amkor Technology’s payout ratio is 20.39%.

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.