Chase Investment Counsel Corp Makes New $3.48 Million Investment in Amkor Technology, Inc. (NASDAQ:AMKR)

Chase Investment Counsel Corp purchased a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 87,006 shares of the semiconductor company’s stock, valued at approximately $3,481,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMKR. Driehaus Capital Management LLC bought a new position in shares of Amkor Technology during the second quarter valued at $58,379,000. Millennium Management LLC increased its position in Amkor Technology by 359.7% during the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock valued at $54,439,000 after acquiring an additional 1,064,404 shares during the last quarter. Vanguard Group Inc. increased its position in Amkor Technology by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock valued at $490,965,000 after acquiring an additional 959,838 shares during the last quarter. American Century Companies Inc. increased its position in Amkor Technology by 54.4% during the second 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 last quarter. Finally, M&G Plc purchased a new stake in Amkor Technology during the first quarter valued at $11,435,000. 42.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction dated 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 sale, the director now owns 19,871 shares in the company, valued at $655,146.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred 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 directly owns 19,871 shares of the company’s stock, valued at $655,146.87. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 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 disclosure for this sale can be found here. 31.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMKR shares. KeyCorp started coverage on Amkor Technology in a research report on Friday, September 20th. They set an “overweight” rating and a $38.00 price objective for the company. Needham & Company LLC upped their price objective on Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. started coverage on Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 price objective for the company. B. Riley upped 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. Finally, 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 report on Tuesday, July 2nd. Three 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.75.

Amkor Technology Stock Performance

Shares of AMKR opened at $30.89 on Monday. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $32.02 and a two-hundred day simple moving average of $33.54. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 20.32 and a beta of 1.85. Amkor Technology, Inc. has a 52 week low of $17.58 and a 52 week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released 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. 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 analysts’ expectations of $1.45 billion. During the same quarter last year, the business posted $0.26 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. On average, analysts expect that Amkor Technology, Inc. will post 1.53 EPS for the current year.

Amkor Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd were given a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is currently 20.39%.

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.