Denali Advisors LLC Sells 46,300 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Denali Advisors LLC lowered its position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 60.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,926 shares of the semiconductor company’s stock after selling 46,300 shares during the quarter. Denali Advisors LLC’s holdings in Amkor Technology were worth $1,198,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AMKR. SG Americas Securities LLC increased its position in shares of Amkor Technology by 1.3% during the second quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company’s stock worth $948,000 after acquiring an additional 296 shares in the last quarter. CWM LLC increased its position in shares of Amkor Technology by 15.1% during the second quarter. CWM LLC now owns 2,359 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 309 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Amkor Technology by 0.3% during the first quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock worth $4,179,000 after acquiring an additional 344 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Amkor Technology by 3.5% during the first quarter. QRG Capital Management Inc. now owns 11,837 shares of the semiconductor company’s stock worth $382,000 after acquiring an additional 405 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Amkor Technology by 3.5% during the fourth quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock worth $428,000 after acquiring an additional 438 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMKR. Needham & Company LLC increased their price objective on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Morgan Stanley increased their price objective on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. assumed coverage on shares of Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 price objective for the company. Finally, B. Riley increased their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.14.

Amkor Technology Stock Performance

NASDAQ AMKR opened at $30.33 on Tuesday. The firm has a 50-day moving average of $34.04 and a 200-day moving average of $33.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The stock has a market cap of $7.46 billion, a PE ratio of 19.95 and a beta of 1.85. Amkor Technology, Inc. has a 52-week low of $17.58 and a 52-week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the company posted $0.26 EPS. Amkor Technology’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amkor Technology, Inc. will post 1.53 EPS for the current year.

Amkor Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd will be paid a $0.079 dividend. This represents a $0.32 annualized dividend and a yield of 1.04%. The ex-dividend date is Tuesday, September 3rd. Amkor Technology’s dividend payout ratio (DPR) is 20.39%.

Insiders Place Their Bets

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the sale, the chief executive officer now directly owns 128,333 shares of the company’s stock, valued at approximately $5,510,619.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now directly owns 19,871 shares in the company, valued at $655,146.87. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Amkor Technology Profile

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.