Alliancebernstein L.P. Grows Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Alliancebernstein L.P. raised its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 15.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,081,481 shares of the semiconductor company’s stock after acquiring an additional 556,761 shares during the period. Alliancebernstein L.P. owned approximately 1.65% of Amkor Technology worth $104,853,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Amkor Technology in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp increased its stake in Amkor Technology by 353.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 1,160 shares during the period. Blue Trust Inc. increased its stake in Amkor Technology by 36.9% in the 4th quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 922 shares during the period. Quarry LP raised its position in Amkor Technology by 421.8% during the 3rd 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 last quarter. Finally, 1620 Investment Advisors Inc. lifted its stake in shares of Amkor Technology by 24.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 4,768 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 942 shares during the period. 42.76% of the stock is owned by institutional investors and hedge funds.

Amkor Technology Trading Up 2.9 %

Shares of AMKR stock opened at $18.63 on Thursday. The stock has a market cap of $4.60 billion, a P/E ratio of 13.03 and a beta of 1.88. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. Amkor Technology, Inc. has a fifty-two week low of $17.60 and a fifty-two week high of $44.86. The business has a fifty day simple moving average of $21.53 and a 200-day simple moving average of $25.49.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results 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 net margin of 5.60% and a return on equity of 8.59%. On average, analysts forecast that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th were paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, March 13th. Amkor Technology’s payout ratio is currently 23.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. B. Riley cut their price target on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Melius cut Amkor Technology from a “buy” rating to a “hold” rating and dropped their target price for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Morgan Stanley decreased their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the transaction, the executive vice president now directly owns 1,388 shares in the company, valued at approximately $30,105.72. This represents a 79.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the sale, the insider now directly owns 10,020,870 shares in the company, valued at $218,956,009.50. This represents a 7.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is owned by insiders.

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.