Cornercap Investment Counsel Inc. Takes $275,000 Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Cornercap Investment Counsel Inc. purchased a new position in shares of Amkor Technology, Inc. (NASDAQ:AMKR) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,255 shares of the semiconductor company’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Amkor Technology by 1,324.6% during the 4th quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock worth $27,000 after buying an additional 755 shares in the last quarter. Fifth Third Bancorp lifted its position in Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after buying an additional 347 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Amkor Technology by 57.0% during 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 period. Lazard Asset Management LLC bought a new stake in Amkor Technology during the 1st quarter worth about $38,000. Finally, Chilton Capital Management LLC acquired a new position in Amkor Technology during the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Stock Performance

Amkor Technology stock opened at $30.10 on Thursday. The business has a 50 day moving average of $31.72 and a 200-day moving average of $29.29. 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 1 year low of $17.58 and a 1 year high of $37.00. The company has a market capitalization of $7.40 billion, a P/E ratio of 20.62 and a beta of 1.96.

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

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were given a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is presently 21.23%.

Insider Buying and Selling

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of 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 SEC, which is accessible through this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.23, for a total transaction of $780,750.00. Following the transaction, the chief executive officer now directly owns 124,476 shares of the company’s stock, valued at $3,887,385.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Megan Faust sold 2,700 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The disclosure for this sale can be found here. Insiders sold 58,200 shares of company stock valued at $1,801,870 over the last quarter. Insiders own 53.30% of the company’s stock.

Analysts Set New Price Targets

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

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.