Millennium Management LLC Boosts Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Millennium Management LLC boosted its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 359.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,360,292 shares of the semiconductor company’s stock after purchasing an additional 1,064,404 shares during the quarter. Millennium Management LLC’s holdings in Amkor Technology were worth $54,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AMKR. KBC Group NV raised its position in Amkor Technology by 20.4% during the 4th quarter. KBC Group NV now owns 100,730 shares of the semiconductor company’s stock worth $3,351,000 after buying an additional 17,075 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Amkor Technology by 1.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,078,173 shares of the semiconductor company’s stock valued at $35,871,000 after purchasing an additional 20,415 shares in the last quarter. Capital Fund Management S.A. increased its holdings in shares of Amkor Technology by 0.6% during the 4th quarter. Capital Fund Management S.A. now owns 179,289 shares of the semiconductor company’s stock valued at $5,965,000 after purchasing an additional 1,144 shares in the last quarter. Pineridge Advisors LLC purchased a new position in shares of Amkor Technology during the 4th quarter valued at approximately $28,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Amkor Technology by 4.7% during 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 purchasing an additional 63,104 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Price Performance

Amkor Technology stock opened at $30.60 on Tuesday. The company’s fifty day moving average price is $31.81 and its 200 day moving average price is $33.53. Amkor Technology, Inc. has a 1 year low of $17.58 and a 1 year high of $44.86. The stock has a market capitalization of $7.52 billion, a P/E ratio of 20.13 and a beta of 1.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08.

Amkor Technology (NASDAQ:AMKR) last announced 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 net margin of 5.87% and a return on equity of 9.41%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company posted $0.26 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. 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 Dividend Announcement

The firm 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. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a yield of 1.03%. Amkor Technology’s dividend payout ratio (DPR) is presently 20.39%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction 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 sale, the chief executive officer now owns 128,333 shares of the company’s stock, valued at approximately $5,510,619.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Winston J. Churchill sold 20,000 shares of the business’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 transaction, the director now owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 128,333 shares in the company, valued at approximately $5,510,619.02. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by corporate insiders.

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.