Hanson & Doremus Investment Management Cuts Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Hanson & Doremus Investment Management lessened its position in Amkor Technology, Inc. (NASDAQ:AMKR) by 16.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,575 shares of the semiconductor company’s stock after selling 5,815 shares during the period. Hanson & Doremus Investment Management’s holdings in Amkor Technology were worth $734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its position in Amkor Technology by 24,383.3% in the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after purchasing an additional 3,772,095 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Amkor Technology during the 3rd quarter worth approximately $42,610,000. Wellington Management Group LLP lifted its holdings in shares of Amkor Technology by 522.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock valued at $34,704,000 after buying an additional 951,764 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Amkor Technology by 212.6% in the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after buying an additional 925,644 shares in the last quarter. Finally, FMR LLC grew its holdings 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 during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on AMKR shares. Morgan Stanley reduced their target price on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. KeyCorp reduced their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their target price on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group decreased their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology has a consensus rating of “Hold” and a consensus target price of $35.50.

Amkor Technology Trading Up 1.9 %

Shares of AMKR opened at $24.52 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. Amkor Technology, Inc. has a 1-year low of $23.36 and a 1-year high of $44.86. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 16.57 and a beta of 1.83. The firm has a 50 day simple moving average of $26.05 and a 200-day simple moving average of $29.33.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the business posted $0.54 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Amkor Technology, Inc. will post 1.38 EPS for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were paid a $0.0827 dividend. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, December 4th. This represents a $0.33 annualized dividend and a yield of 1.35%. Amkor Technology’s payout ratio is presently 22.30%.

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.