Meritage Portfolio Management Makes New Investment in Amkor Technology, Inc. (NASDAQ:AMKR)

Meritage Portfolio Management acquired a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) in the fourth quarter, Holdings Channel reports. The fund acquired 7,311 shares of the semiconductor company’s stock, valued at approximately $243,000.

Several other institutional investors have also made changes to their positions in the business. Allworth Financial LP grew its position in Amkor Technology by 1,324.6% in the fourth quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 755 shares during the period. Fifth Third Bancorp boosted its position in Amkor Technology by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 347 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Amkor Technology by 1,414.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock worth $29,000 after buying an additional 806 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Amkor Technology by 57.0% in the fourth quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 540 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Amkor Technology by 81.1% in the 3rd quarter. CWM LLC now owns 3,661 shares of the semiconductor company’s stock worth $83,000 after acquiring an additional 1,640 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at approximately $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated 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 directly owns 124,476 shares of the company’s stock, valued at approximately $3,887,385.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. Insiders sold 80,500 shares of company stock valued at $2,494,720 in the last ninety days. 31.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Fox Advisors started coverage on Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating for the company. Needham & Company LLC initiated coverage on Amkor Technology in a report on Tuesday, April 9th. They issued a “buy” rating and a $40.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Amkor Technology in a report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

Amkor Technology Trading Up 1.8 %

Shares of NASDAQ AMKR opened at $30.62 on Friday. The company’s 50 day simple moving average is $31.57 and its 200 day simple moving average is $29.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. Amkor Technology, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $37.00. The firm has a market capitalization of $7.53 billion, a P/E ratio of 20.97 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. On average, analysts predict that Amkor Technology, Inc. will post 1.63 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is currently 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.