Amkor Technology, Inc. (NASDAQ:AMKR) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. trimmed its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 20.2% during the third quarter, Holdings Channel.com reports. The firm owned 13,418 shares of the semiconductor company’s stock after selling 3,406 shares during the quarter. Navellier & Associates Inc.’s holdings in Amkor Technology were worth $411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its position in Amkor Technology by 24,383.3% in the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after buying an additional 3,772,095 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Amkor Technology during the second quarter valued at approximately $58,379,000. Ceredex Value Advisors LLC acquired a new stake in Amkor Technology in the third quarter worth approximately $42,610,000. Millennium Management LLC boosted its stake in Amkor Technology by 359.7% during the 2nd quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock valued at $54,439,000 after purchasing an additional 1,064,404 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after purchasing an additional 925,644 shares during the period. 42.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. DA Davidson cut their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report 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 for the company in a report on Tuesday, October 29th. KeyCorp lowered their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their target price on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Needham & Company LLC decreased their price target on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.29.

Amkor Technology Stock Performance

Shares of AMKR opened at $26.35 on Friday. The company has a 50-day moving average of $28.93 and a two-hundred day moving average of $32.73. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 17.80 and a beta of 1.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. Amkor Technology, Inc. has a one year low of $24.10 and a one year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The company’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 earnings per share. On average, equities research analysts expect that Amkor Technology, Inc. will post 1.42 earnings per share for the current year.

Amkor Technology Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a yield of 1.26%. Amkor Technology’s dividend payout ratio (DPR) is presently 20.95%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction on 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 owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 50.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction on 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 directly owns 204,971 shares in the company, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

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.