Amkor Technology, Inc. (NASDAQ:AMKR) Position Increased by Summit Global Investments

Summit Global Investments lifted its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 188.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,078 shares of the semiconductor company’s stock after acquiring an additional 24,207 shares during the period. Summit Global Investments’ holdings in Amkor Technology were worth $1,484,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Riverwater Partners LLC raised its stake in Amkor Technology by 51.9% during the 2nd quarter. Riverwater Partners LLC now owns 30,883 shares of the semiconductor company’s stock valued at $1,236,000 after purchasing an additional 10,556 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Amkor Technology during the 2nd quarter worth about $293,000. Blue Trust Inc. grew its stake in Amkor Technology by 158.3% during the 2nd quarter. Blue Trust Inc. now owns 2,255 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 1,382 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in shares of Amkor Technology in the 2nd quarter valued at about $405,000. Finally, SG Americas Securities LLC lifted its position in shares of Amkor Technology by 1.3% in the second quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company’s stock worth $948,000 after purchasing an additional 296 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

Insider Transactions at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $42.94, for a total value of $1,073,500.00. Following the completion of the sale, the chief executive officer now owns 128,333 shares in the company, valued at approximately $5,510,619.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 31.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMKR shares. The Goldman Sachs Group lifted their target price on shares of Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. initiated coverage on Amkor Technology in a report on Monday, July 1st. They set an “overweight” rating and a $48.00 price target for the company. B. Riley increased their price objective on Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. DA Davidson lifted their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley increased their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.14.

Amkor Technology Stock Performance

AMKR traded up $0.80 during trading on Wednesday, hitting $33.20. The stock had a trading volume of 442,013 shares, compared to its average volume of 1,271,175. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.23. Amkor Technology, Inc. has a 12 month low of $17.58 and a 12 month high of $44.86. The company has a 50 day simple moving average of $36.93 and a 200-day simple moving average of $33.65. The firm has a market cap of $8.16 billion, a PE ratio of 21.32 and a beta of 1.86.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Analysts expect that Amkor Technology, Inc. will post 1.53 EPS for the current year.

Amkor Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd will be given a $0.079 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.32 annualized dividend and a yield of 0.95%. Amkor Technology’s dividend payout ratio is 20.39%.

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.