Truist Financial Corp Lowers Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Truist Financial Corp trimmed its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 45.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,782 shares of the semiconductor company’s stock after selling 14,974 shares during the period. Truist Financial Corp’s holdings in Amkor Technology were worth $712,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in shares of Amkor Technology in the 2nd quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Amkor Technology in the second quarter worth $40,000. Larson Financial Group LLC grew its stake in shares of Amkor Technology by 911.3% in the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 1,130 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Amkor Technology during the second quarter valued at $52,000. Finally, Headlands Technologies LLC purchased a new position in shares of Amkor Technology in the 1st quarter worth about $43,000. Institutional investors own 42.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AMKR shares. B. Riley increased their price objective 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. JPMorgan Chase & Co. assumed coverage on shares of Amkor Technology in a report on Monday, July 1st. They issued an “overweight” rating and a $48.00 price objective for the company. StockNews.com raised Amkor Technology from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley lifted their target price on Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 2nd. Finally, Needham & Company LLC upped 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology has a consensus rating of “Moderate Buy” and a consensus price target of $40.75.

Insiders Place Their Bets

In other Amkor Technology 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 transaction, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.40% of the company’s stock.

Amkor Technology Trading Up 2.2 %

AMKR stock opened at $31.61 on Tuesday. Amkor Technology, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The firm has a fifty day moving average price of $30.97 and a 200 day moving average price of $33.43. The firm has a market cap of $7.77 billion, a PE ratio of 20.80 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results 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. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Sell-side analysts anticipate that Amkor Technology, Inc. will post 1.55 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were issued a $0.079 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Amkor Technology’s payout ratio is 20.39%.

Amkor Technology 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.