Sterling Capital Management LLC Boosts Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Sterling Capital Management LLC grew its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,695 shares of the semiconductor company’s stock after buying an additional 2,460 shares during the quarter. Sterling Capital Management LLC’s holdings in Amkor Technology were worth $557,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Kennedy Capital Management LLC increased its stake in shares of Amkor Technology by 24.5% during the fourth quarter. Kennedy Capital Management LLC now owns 215,525 shares of the semiconductor company’s stock worth $5,537,000 after acquiring an additional 42,394 shares during the period. Bessemer Group Inc. increased its position in Amkor Technology by 421.0% during the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,242 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Amkor Technology during the 4th quarter worth approximately $5,666,000. Faithward Advisors LLC lifted its holdings in shares of Amkor Technology by 6.0% in the 4th quarter. Faithward Advisors LLC now owns 105,699 shares of the semiconductor company’s stock valued at $2,715,000 after buying an additional 5,985 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Amkor Technology in the fourth quarter valued at approximately $9,549,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Insider Activity

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the sale, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the transaction, the insider now directly owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.90% of the company’s stock.

Amkor Technology Price Performance

AMKR stock opened at $15.97 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The stock’s 50 day moving average price is $19.34 and its 200 day moving average price is $24.25. The firm has a market cap of $3.95 billion, a P/E ratio of 11.17 and a beta of 1.88. Amkor Technology, Inc. has a 1 year low of $14.03 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. On average, sell-side analysts expect that Amkor Technology, Inc. will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were issued a dividend of $0.0827 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 2.07%. Amkor Technology’s dividend payout ratio (DPR) is presently 23.08%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Morgan Stanley decreased their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of Amkor Technology in a report on Tuesday, February 11th. Melius Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, B. Riley dropped their price objective on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.50.

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.