Cubist Systematic Strategies LLC Acquires New Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Cubist Systematic Strategies LLC acquired a new stake in Amkor Technology, Inc. (NASDAQ:AMKR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 137,126 shares of the semiconductor company’s stock, valued at approximately $5,488,000. Cubist Systematic Strategies LLC owned about 0.06% of Amkor Technology at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Amkor Technology by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock valued at $482,847,000 after purchasing an additional 219,638 shares during the last quarter. American Century Companies Inc. increased its position in Amkor Technology by 54.4% in the 2nd quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock valued at $66,966,000 after acquiring an additional 589,530 shares during the period. Goldman Sachs Group Inc. increased its position in Amkor Technology by 4.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock valued at $46,927,000 after acquiring an additional 63,104 shares during the period. Norges Bank acquired a new position in Amkor Technology in the 4th quarter valued at approximately $39,224,000. Finally, Westwood Holdings Group Inc. increased its position in Amkor Technology by 0.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,112,942 shares of the semiconductor company’s stock valued at $44,540,000 after acquiring an additional 9,324 shares during the period. Institutional investors own 42.76% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

Amkor Technology Trading Down 3.2 %

AMKR opened at $30.89 on Friday. The stock has a market cap of $7.59 billion, a PE ratio of 20.32 and a beta of 1.85. Amkor Technology, Inc. has a twelve month low of $17.58 and a twelve month high of $44.86. The company has a fifty day moving average of $32.02 and a 200-day moving average of $33.54. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. Amkor Technology’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. On average, sell-side analysts predict that Amkor Technology, Inc. will post 1.53 EPS for the current year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd were paid a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is presently 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.