Readystate Asset Management LP Makes New $4.69 Million Investment in Amkor Technology, Inc. (NASDAQ:AMKR)

Readystate Asset Management LP purchased a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 141,100 shares of the semiconductor company’s stock, valued at approximately $4,694,000.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Amkor Technology by 1,324.6% in the 4th quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 755 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Amkor Technology by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 347 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Amkor Technology by 1,414.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 806 shares during the last quarter. West Tower Group LLC purchased a new position in shares of Amkor Technology in the 4th quarter valued at approximately $31,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Amkor Technology in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Insider Activity at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $32.00, for a total value of $86,400.00. Following the completion of the transaction, the chief financial officer now owns 35,394 shares of the company’s stock, valued at $1,132,608. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $32.00, for a total transaction of $86,400.00. Following the sale, the chief financial officer now owns 35,394 shares in the company, valued at $1,132,608. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.23, for a total value of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares in the company, valued at approximately $3,887,385.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,200 shares of company stock valued at $1,801,870. Insiders own 53.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Fox Advisors assumed coverage on 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 Amkor Technology in a research report on Tuesday, April 9th. They set a “buy” rating and a $40.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on Amkor Technology in a research report on Thursday, February 29th. They set a “neutral” rating and a $32.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

Amkor Technology Trading Down 3.6 %

AMKR stock traded down $1.11 during trading on Wednesday, reaching $30.10. 892,539 shares of the stock traded hands, compared to its average volume of 920,032. The business’s 50 day moving average price is $31.72 and its 200-day moving average price is $29.29. Amkor Technology, Inc. has a 52-week low of $17.58 and a 52-week high of $37.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The firm has a market capitalization of $7.40 billion, a PE ratio of 20.62 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, February 12th. The semiconductor company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s revenue was down 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Amkor Technology, Inc. will post 1.63 earnings per share for the current year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were given a $0.079 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s payout ratio is 21.23%.

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.