Mirae Asset Global Investments Co. Ltd. acquired Amkor Technology, Inc. (NASDAQ:AMKR – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The company reportedly raised its stock holdings by 0.1%. The company now owns 249,934 shares of the company's stock after purchasing an additional 362 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of his Amkor Technology, valued at $8,315,000, as of the most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Amkor Technology by 6.3% in the 2nd quarter. BlackRock Inc. now owns 14,142,932 shares of the company's stock valued at $420,752,000 after purchasing an additional 835,069 shares during the period. Vanguard Group Inc. grew its stake in Amkor Technology by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,797,154 shares of the company's stock valued at $311,816,000 after purchasing an additional 1,300,745 shares during the period. AllianceBernstein LP increased his stake in Amkor Technology by 1,757.9% in the 2nd quarter. AllianceBernstein LP now owns 4,182,333 shares of the company's stock valued at $124,424,000 after purchasing an additional 3,957,221 shares during the period. State Street Corp increased its stake in Amkor Technology by 2.8% in the 1st quarter. State Street Corporation now owns 3,515,892 shares of the company's stock valued at $91,484,000 after purchasing an additional 95,883 shares during the period. Finally, SW Investment Management LLC grew its stake in Amkor Technology by 9.1% in the 1st quarter. SW Investment Management LLC now owns 3,000,000 shares of the company's stock worth $65,165,000 after purchasing an additional 250,000 shares during the period. 42.76% of the stock is currently held by institutional investors and hedge funds.
Insider buying and selling
In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total transaction of $765,750.00. Following the sale, the CEO now owns 123,728 shares of the company's stock, valued at $3,789,788.64. The transaction was disclosed in his legal filing with the SEC, which can be accessed through this link. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total sale of $765,750.00. Following the sale, the CEO now owns 123,728 shares of the company's stock, valued at $3,789,788.64. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed on the SEC's website. Also, CFO Megan Faust sold 2,700 shares of the company's stock in a transaction on Friday, January 19th. The shares were sold at an average price of $32.00, for a total transaction of $86,400.00. Following the completion of the sale, the chief financial officer will now directly own 35,394 shares of the company's stock, valued at approximately $1,132,608. Disclosures regarding this sale can be found here. Over the past 90 days, insiders have sold 58,200 shares of company stock, valued at $1,801,870. Company insiders own 53.30% of the company's stock.
Wall Street analysts predict growth
Many research analysts have commented on the stock price. Fox Advisors began coverage on his shares of Amkor Technology in a research note on Thursday, March 14th. They issued an “equal weight” rating on the stock. Needham & Company LLC initiated coverage on shares of his Amkor Technology in a report on Tuesday, April 9th. They rate the stock as a “buy” and set a price target of $40.00. Finally, Goldman Sachs Group initiated coverage on shares of Amkor Technology in a report on Thursday, February 29th. The company gave the stock a “neutral” rating and a price target of $32.00. Three analysts have rated the stock as a “hold” and five have rated it a “buy”. Based on data from MarketBeat, Amkor Technology currently has an average rating of “Moderate Buy” and a consensus price target of $34.33.
Read the latest stock report on Amkor Technology
Amkor Technology stock falls 3.5%
AMKR stock opened Friday at $32.37. The company has a market capitalization of $7.96 billion, a P/E ratio of 22.17 and a beta of 1.96. Amkor Technology, Inc. has a 52-week low of $17.58 and a 52-week high of $37.00. The company's 50-day moving average price is $31.72 and its 200-day moving average price is $29.12. The company's current ratio is 2.31 times, quick ratio is 2.02 times, and debt-to-equity ratio is 0.27 times.
Amkor Technology (NASDAQ:AMKR – Get Free Report) last released its quarterly earnings data on Monday, February 12th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. Amkor Technology had a net profit margin of 5.53% and a return on equity of 9.37%. The company's revenue decreased 8.1% year-on-year. The company's earnings per share for the same period last year was $0.67. Research analysts, on average, expect that Amkor Technology, Inc. will post 1.63 earnings per share for the current fiscal year.
Amkor Technology Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were issued a dividend of $0.079 per share. This equates to his $0.32 dividend and his 0.98% yield on an annualized basis. The ex-dividend date was Monday, March 11th. Amkor Technology's payout ratio is currently 21.23%.
About Amkor Technology
(Free report)
Amkor Technology, Inc provides outsourced semiconductor packaging and testing services in the United States, Japan, Europe, the Middle East, Africa, and Asia Pacific. The company provides turnkey packaging and test services including semiconductor wafer bump, wafer probe, wafer backgrind, package design, packaging, system level and final testing, and drop shipping services. Flip chip scale packaging products for smartphones, tablets and other mobile consumer electronics. Flip-chip stacked chip-scale package used for stacking memory digital baseband and as an application processor in mobile devices. Flip-chip ball grid array packages for a variety of networking, storage, computing, automotive, and consumer applications. Memory products for system memory or platform data storage.
References
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