Swiss National Bank Decreases Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Swiss National Bank reduced its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,300 shares of the semiconductor company’s stock after selling 1,700 shares during the period. Swiss National Bank owned 0.09% of Amkor Technology worth $6,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. purchased a new position in shares of Amkor Technology in the 2nd quarter valued at $31,000. Capital Performance Advisors LLP purchased a new position in shares of Amkor Technology during the third quarter worth about $39,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Amkor Technology during the second quarter worth about $40,000. Larson Financial Group LLC lifted its holdings in shares of 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 acquired a new stake in shares of Amkor Technology in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Analyst Upgrades and Downgrades

AMKR has been the subject of a number of research reports. DA Davidson reduced their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley reduced their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC reduced their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.29.

Insider Transactions at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.40% of the company’s stock.

Amkor Technology Stock Down 2.3 %

Shares of NASDAQ:AMKR opened at $26.28 on Wednesday. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 17.76 and a beta of 1.85. Amkor Technology, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $44.86. The firm’s 50-day simple moving average is $28.78 and its 200-day simple moving average is $32.65. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21.

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

Amkor Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.0827 per share. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, December 4th. Amkor Technology’s payout ratio is presently 22.30%.

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.