Convergence Investment Partners LLC cut its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 22.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 386,748 shares of the semiconductor company’s stock after selling 109,197 shares during the period. Convergence Investment Partners LLC’s holdings in Amkor Technology were worth $3,779,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Amkor Technology by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 62,562 shares of the semiconductor company’s stock valued at $725,000 after buying an additional 743 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Amkor Technology by 1.1% in the second quarter. Rhumbline Advisers now owns 127,662 shares of the semiconductor company’s stock valued at $1,247,000 after buying an additional 1,336 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Amkor Technology by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 67,848 shares of the semiconductor company’s stock valued at $786,000 after buying an additional 1,881 shares during the last quarter. Adams Diversified Equity Fund Inc. increased its stake in shares of Amkor Technology by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 71,900 shares of the semiconductor company’s stock valued at $833,000 after buying an additional 2,000 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Amkor Technology by 25.2% in the first quarter. UBS Group AG now owns 10,760 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 2,164 shares during the last quarter. 38.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of Amkor Technology, Inc. (NASDAQ AMKR) opened at 8.73 on Friday. Amkor Technology, Inc. has a 52 week low of $8.41 and a 52 week high of $12.48. The company has a 50 day moving average of $10.00 and a 200 day moving average of $10.70. The firm has a market cap of $2.09 billion, a PE ratio of 7.88 and a beta of 2.52.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, July 31st. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. The firm had revenue of $989 million during the quarter, compared to analyst estimates of $996.10 million. Amkor Technology had a net margin of 6.63% and a return on equity of 12.95%. Amkor Technology’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS. On average, equities research analysts anticipate that Amkor Technology, Inc. will post $0.54 EPS for the current fiscal year.

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Several brokerages have recently weighed in on AMKR. BidaskClub downgraded shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. ValuEngine raised shares of Amkor Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $10.50 target price (down previously from $12.00) on shares of Amkor Technology in a report on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $12.25.

In related news, insider Stephen Douglas Kelley sold 108,510 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $12.11, for a total value of $1,314,056.10. Following the completion of the transaction, the insider now owns 310,460 shares in the company, valued at approximately $3,759,670.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Winston J. Churchill sold 13,402 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $11.00, for a total transaction of $147,422.00. Following the completion of the transaction, the director now owns 42,178 shares of the company’s stock, valued at approximately $463,958. The disclosure for this sale can be found here. Insiders sold a total of 131,912 shares of company stock valued at $1,581,978 in the last quarter. 58.10% of the stock is currently owned by insiders.

Amkor Technology Company Profile

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements, including the type of interconnect technology; size, thickness and electrical, and mechanical and thermal performance.

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Institutional Ownership by Quarter for Amkor Technology (NASDAQ:AMKR)

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