First Eagle Investment Management LLC Cuts Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

First Eagle Investment Management LLC cut its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 531,300 shares of the semiconductor company’s stock after selling 56,599 shares during the quarter. First Eagle Investment Management LLC owned 0.22% of Amkor Technology worth $13,649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMKR. SBI Securities Co. Ltd. purchased a new position in Amkor Technology during the fourth quarter worth $27,000. Jones Financial Companies Lllp boosted its stake in Amkor Technology by 353.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after buying an additional 1,160 shares during the period. Larson Financial Group LLC boosted its stake in Amkor Technology by 46.3% during the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock worth $56,000 after buying an additional 580 shares during the period. Blue Trust Inc. boosted its stake in Amkor Technology by 36.9% during the fourth quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock worth $88,000 after buying an additional 922 shares during the period. Finally, Quarry LP boosted its stake in Amkor Technology by 421.8% during the third quarter. Quarry LP now owns 3,136 shares of the semiconductor company’s stock worth $96,000 after buying an additional 2,535 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the transaction, the insider now directly owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. The trade was a 7.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares of the company’s stock, valued at $30,105.72. This represents a 79.82 % 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMKR. JPMorgan Chase & Co. decreased their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. B. Riley decreased their target price on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Melius downgraded Amkor Technology from a “buy” rating to a “hold” rating and decreased their target price for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Melius Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Morgan Stanley decreased their target price on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Amkor Technology Stock Performance

AMKR stock opened at $19.61 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. The business has a 50-day moving average price of $23.32 and a 200 day moving average price of $26.57. The company has a market capitalization of $4.84 billion, a P/E ratio of 13.71 and a beta of 1.88. Amkor Technology, Inc. has a 1-year low of $18.87 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. As a group, equities research analysts forecast that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be issued a $0.0827 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a yield of 1.69%. Amkor Technology’s dividend payout ratio is presently 23.08%.

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.