Readystate Asset Management LP Acquires Shares of 141,100 Amkor Technology, Inc. (NASDAQ:AMKR)

Readystate Asset Management LP acquired a new stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 141,100 shares of the semiconductor company’s stock, valued at approximately $4,694,000. Readystate Asset Management LP owned 0.06% of Amkor Technology at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Amkor Technology by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,860,585 shares of the semiconductor company’s stock valued at $494,421,000 after buying an additional 244,026 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Amkor Technology by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock valued at $490,965,000 after buying an additional 959,838 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Amkor Technology by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,142,932 shares of the semiconductor company’s stock valued at $420,752,000 after buying an additional 835,069 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Amkor Technology by 1,757.9% in the 2nd quarter. Alliancebernstein L.P. now owns 4,182,333 shares of the semiconductor company’s stock worth $124,424,000 after purchasing an additional 3,957,221 shares in the last quarter. Finally, State Street Corp boosted its stake in Amkor Technology by 2.8% in the 1st quarter. State Street Corp now owns 3,515,892 shares of the semiconductor company’s stock worth $91,484,000 after purchasing an additional 95,883 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Stock Performance

Amkor Technology stock traded down $1.11 during midday trading on Wednesday, hitting $30.10. The stock had a trading volume of 892,539 shares, compared to its average volume of 920,032. The firm’s fifty day moving average is $31.72 and its two-hundred day moving average is $29.29. The company has a market capitalization of $7.40 billion, a PE ratio of 20.62 and a beta of 1.96. Amkor Technology, Inc. has a 52-week low of $17.58 and a 52-week high of $37.00. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27.

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

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were paid a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a yield of 1.05%. Amkor Technology’s payout ratio is 21.23%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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