Palouse Capital Management Inc. Makes New Investment in Amkor Technology, Inc. (NASDAQ:AMKR)

Palouse Capital Management Inc. acquired a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,149 shares of the semiconductor company’s stock, valued at approximately $127,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMKR. M&G Plc purchased a new position in shares of Amkor Technology during the 1st quarter valued at $11,435,000. Duality Advisers LP bought a new stake in Amkor Technology during the 1st quarter valued at approximately $849,000. Capital World Investors purchased a new position in Amkor Technology in the 1st quarter worth approximately $9,288,000. Vanguard Group Inc. grew its holdings in Amkor Technology by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock valued at $482,847,000 after buying an additional 219,638 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Amkor Technology in the first quarter worth $1,257,000. Institutional investors own 42.76% of the company’s stock.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. The trade was a 0.00 % 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.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMKR. KeyCorp started coverage on shares of Amkor Technology in a report on Friday, September 20th. They issued an “overweight” rating and a $38.00 price target on the stock. JPMorgan Chase & Co. began coverage on Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price objective on the stock. Morgan Stanley raised their target price on shares of Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 2nd. Needham & Company LLC increased their price objective on shares of Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.75.

Amkor Technology Trading Down 0.7 %

Shares of AMKR traded down $0.20 during mid-day trading on Monday, reaching $30.33. 696,086 shares of the company’s stock traded hands, compared to its average volume of 1,302,333. Amkor Technology, Inc. has a 12 month low of $17.58 and a 12 month high of $44.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83. The stock has a market cap of $7.46 billion, a P/E ratio of 20.09 and a beta of 1.84. The stock’s 50-day moving average is $31.02 and its two-hundred day moving average is $33.38.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. Research analysts forecast that Amkor Technology, Inc. will post 1.55 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were paid a $0.079 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. Amkor Technology’s dividend payout ratio is currently 20.39%.

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.