Amkor Technology, Inc. (NASDAQ:AMKR) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 10.6% during the 3rd quarter, Holdings Channel reports. The firm owned 11,383 shares of the semiconductor company’s stock after selling 1,355 shares during the period. QRG Capital Management Inc.’s holdings in Amkor Technology were worth $348,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in Amkor Technology during the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Amkor Technology during the second quarter valued at $40,000. Headlands Technologies LLC purchased a new stake in Amkor Technology during the 1st quarter worth about $43,000. Larson Financial Group LLC raised its stake in Amkor Technology by 911.3% in the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in Amkor Technology in the 2nd quarter valued at about $52,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Stock Down 1.0 %

AMKR opened at $27.10 on Tuesday. The stock’s 50 day moving average price is $29.51 and its 200 day moving average price is $33.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The stock has a market cap of $6.68 billion, a P/E ratio of 18.31 and a beta of 1.85. Amkor Technology, Inc. has a 12 month low of $23.44 and a 12 month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. Amkor Technology’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, research analysts predict that Amkor Technology, Inc. will post 1.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMKR. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Morgan Stanley lowered their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC dropped their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group cut their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Finally, DA Davidson reduced their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.63.

Insiders Place Their Bets

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amkor Technology 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 directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by 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.