Seven Eight Capital LP Buys New Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Seven Eight Capital LP bought a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,176 shares of the semiconductor company’s stock, valued at approximately $941,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Amkor Technology by 1.5% in the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after purchasing an additional 219,638 shares during the period. M&G Plc bought a new position in shares of Amkor Technology in the first quarter worth approximately $11,435,000. First Eagle Investment Management LLC boosted its position in shares of Amkor Technology by 11.7% in the first quarter. First Eagle Investment Management LLC now owns 466,499 shares of the semiconductor company’s stock worth $15,040,000 after purchasing an additional 48,900 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Amkor Technology by 50.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 101,701 shares of the semiconductor company’s stock worth $3,279,000 after purchasing an additional 34,226 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Amkor Technology by 14.7% in the first quarter. ProShare Advisors LLC now owns 37,794 shares of the semiconductor company’s stock worth $1,218,000 after purchasing an additional 4,846 shares during the period. 42.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AMKR. DA Davidson boosted their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday, April 30th. JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a report on Monday, July 1st. They issued an “overweight” rating and a $48.00 target price on the stock. Morgan Stanley boosted their target price on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology has a consensus rating of “Moderate Buy” and an average target price of $40.43.

Amkor Technology Trading Down 0.2 %

AMKR stock traded down $0.10 during mid-day trading on Tuesday, reaching $41.09. 917,637 shares of the stock traded hands, compared to its average volume of 1,174,417. The business has a 50-day moving average price of $37.16 and a two-hundred day moving average price of $33.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.08 and a current ratio of 2.34. The stock has a market capitalization of $10.10 billion, a PE ratio of 27.03 and a beta of 1.86. Amkor Technology, Inc. has a one year low of $17.58 and a one year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Amkor Technology had a net margin of 5.84% and a return on equity of 9.53%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Equities research analysts expect that Amkor Technology, Inc. will post 1.76 EPS for the current year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 0.77%. The ex-dividend date was Tuesday, June 4th. Amkor Technology’s payout ratio is 20.39%.

Insiders Place Their Bets

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the sale, the executive vice president now directly owns 25,280 shares of the company’s stock, valued at $791,264. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gil C. Tily sold 20,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $32.20, for a total transaction of $644,000.00. Following the sale, the director now directly owns 129,218 shares of the company’s stock, valued at $4,160,819.60. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock worth $2,708,250 in the last three months. Corporate insiders own 31.40% of the company’s stock.

Amkor Technology Company 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.