AQR Capital Management LLC Sells 127,426 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

AQR Capital Management LLC decreased its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,786,469 shares of the semiconductor company’s stock after selling 127,426 shares during the period. AQR Capital Management LLC owned approximately 0.73% of Amkor Technology worth $71,494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMKR. Norges Bank purchased a new stake in Amkor Technology in the fourth quarter worth about $39,224,000. Vanguard Group Inc. lifted its stake in shares of Amkor Technology by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock valued at $490,965,000 after purchasing an additional 959,838 shares during the period. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 589,530 shares during the period. M&G Plc bought a new stake in shares of Amkor Technology during the first quarter valued at approximately $11,435,000. Finally, Squarepoint Ops LLC grew its stake in Amkor Technology by 139.6% in the second quarter. Squarepoint Ops LLC now owns 604,974 shares of the semiconductor company’s stock worth $24,211,000 after purchasing an additional 352,471 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Price Performance

Shares of AMKR opened at $30.89 on Friday. Amkor Technology, Inc. has a twelve month low of $17.58 and a twelve month high of $44.86. The company has a market capitalization of $7.59 billion, a P/E ratio of 20.32 and a beta of 1.85. The firm has a 50 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 posted its earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. As a group, equities research analysts anticipate that Amkor Technology, Inc. will post 1.53 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders 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 was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is currently 20.39%.

Insider Activity

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $42.94, for a total transaction 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 SEC, which can be accessed through the SEC website. In other news, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the completion of the transaction, the chief executive officer now owns 128,333 shares in the company, valued at approximately $5,510,619.02. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AMKR shares. KeyCorp assumed coverage on shares of Amkor Technology in a report on Friday, September 20th. They set an “overweight” rating and a $38.00 target price on the stock. Needham & Company LLC boosted their price objective on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a research note on Monday, July 1st. They set an “overweight” rating and a $48.00 target price for the company. Morgan Stanley boosted their price target on Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. Finally, B. Riley raised their price objective on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amkor Technology presently has an average rating of “Moderate Buy” and a consensus price target of $40.75.

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.