Convergence Investment Partners LLC Makes New $2.80 Million Investment in Amkor Technology, Inc. $AMKR

Convergence Investment Partners LLC purchased a new position in Amkor Technology, Inc. (NASDAQ:AMKR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 62,207 shares of the semiconductor company’s stock, valued at approximately $2,801,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Amkor Technology by 100.6% in the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock valued at $349,000 after buying an additional 3,454,012 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Amkor Technology by 61.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after buying an additional 854 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Amkor Technology by 913.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company’s stock worth $136,000 after buying an additional 6,768 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Amkor Technology by 73.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company’s stock worth $9,476,000 after acquiring an additional 222,107 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Amkor Technology in the 1st quarter worth approximately $271,000. 42.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on AMKR. Needham & Company LLC boosted their price objective on Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Melius Research raised Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, April 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Amkor Technology in a research note on Friday. B. Riley Financial boosted their price target on shares of Amkor Technology from $70.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Finally, Morgan Stanley upped their price target on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $69.88.

Insider Buying and Selling

In other news, Director Gil C. Tily sold 15,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total value of $1,159,500.00. Following the completion of the sale, the director owned 108,806 shares of the company’s stock, valued at $8,410,703.80. This trade represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Megan Faust sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $70.30, for a total value of $70,300.00. Following the completion of the sale, the chief financial officer directly owned 132,138 shares of the company’s stock, valued at approximately $9,289,301.40. This trade represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 114,000 shares of company stock valued at $8,631,450. 26.40% of the stock is currently owned by company insiders.

Amkor Technology Stock Performance

Amkor Technology stock opened at $62.56 on Tuesday. The firm’s 50 day simple moving average is $73.89 and its 200-day simple moving average is $60.09. The company has a market cap of $15.51 billion, a P/E ratio of 35.75 and a beta of 2.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. Amkor Technology, Inc. has a fifty-two week low of $20.86 and a fifty-two week high of $96.68.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, equities research analysts predict that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Amkor Technology’s payout ratio is 18.86%.

Amkor Technology Profile

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.