Meeder Asset Management Inc. Boosts Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Meeder Asset Management Inc. increased its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,444 shares of the semiconductor company’s stock after purchasing an additional 1,041 shares during the quarter. Meeder Asset Management Inc.’s holdings in Amkor Technology were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AMKR. The Manufacturers Life Insurance Company boosted its holdings in shares of Amkor Technology by 5.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 105,521 shares of the semiconductor company’s stock valued at $3,229,000 after buying an additional 5,307 shares in the last quarter. FMR LLC boosted its stake in Amkor Technology by 35.7% during the third quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company’s stock worth $47,595,000 after acquiring an additional 409,241 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Amkor Technology by 510.1% in the third quarter. BNP Paribas Financial Markets now owns 118,579 shares of the semiconductor company’s stock worth $3,629,000 after purchasing an additional 99,143 shares during the period. MetLife Investment Management LLC increased its stake in shares of Amkor Technology by 7.2% during the third quarter. MetLife Investment Management LLC now owns 58,567 shares of the semiconductor company’s stock valued at $1,792,000 after purchasing an additional 3,956 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Amkor Technology by 5.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,890 shares of the semiconductor company’s stock valued at $8,595,000 after purchasing an additional 14,389 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amkor Technology

In related news, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the transaction, the executive vice president now owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Amkor Technology Price Performance

AMKR opened at $18.06 on Tuesday. The company’s 50-day simple moving average is $21.86 and its two-hundred day simple moving average is $25.62. Amkor Technology, Inc. has a 52-week low of $17.61 and a 52-week high of $44.86. The stock has a market capitalization of $4.46 billion, a P/E ratio of 12.63 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. As a group, analysts predict that Amkor Technology, Inc. will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be issued a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio is 23.08%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMKR. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target on shares of Amkor Technology in a research note on Tuesday, February 11th. B. Riley reduced their price target on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price target on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley reduced their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Finally, Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Amkor Technology has a consensus rating of “Moderate Buy” 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.