Channing Capital Management LLC Reduces Stock Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Channing Capital Management LLC decreased its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 247,648 shares of the semiconductor company’s stock after selling 3,240 shares during the quarter. Channing Capital Management LLC owned approximately 0.10% of Amkor Technology worth $6,362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Amkor Technology during the 4th quarter valued at about $27,000. Jones Financial Companies Lllp grew its position in shares of Amkor Technology by 353.7% in the 4th 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 last quarter. Capital Performance Advisors LLP purchased a new position in shares of Amkor Technology during the third quarter valued at approximately $39,000. Larson Financial Group LLC raised its holdings in shares of Amkor Technology by 46.3% during the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 580 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Amkor Technology by 36.9% in the fourth quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 922 shares during the period. 42.76% of the stock is owned by institutional investors.

Amkor Technology Trading Down 4.4 %

Amkor Technology stock opened at $19.82 on Tuesday. Amkor Technology, Inc. has a 12 month low of $19.65 and a 12 month high of $44.86. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.86 and a beta of 1.88. The business’s fifty day simple moving average is $23.85 and its two-hundred day simple moving average is $26.87. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

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

Amkor Technology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be given a $0.0827 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 1.67%. Amkor Technology’s dividend payout ratio (DPR) is presently 23.08%.

Insider Buying and Selling at Amkor Technology

In related news, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the sale, the executive vice president now owns 1,388 shares in the company, valued at approximately $30,105.72. This trade represents a 79.82 % 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, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMKR. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Morgan Stanley decreased their price target on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. B. Riley lowered their price objective 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 downgraded Amkor Technology from a “buy” rating to a “hold” rating and reduced their target price for the stock from $34.00 to $30.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Amkor Technology currently has a consensus rating of “Hold” and an average target price of $31.50.

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.