Principal Financial Group Inc. Decreases Position in Amkor Technology, Inc. $AMKR

Principal Financial Group Inc. lessened its holdings in Amkor Technology, Inc. (NASDAQ:AMKR) by 3.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,199,115 shares of the semiconductor company’s stock after selling 69,725 shares during the quarter. Principal Financial Group Inc.’s holdings in Amkor Technology were worth $86,833,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AMKR. Bessemer Group Inc. raised its position in Amkor Technology by 72.1% in the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 391 shares during the period. IFP Advisors Inc raised its position in Amkor Technology by 91.2% in the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 447 shares during the period. Advisors Asset Management Inc. raised its position in Amkor Technology by 61.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 854 shares during the period. FNY Investment Advisers LLC raised its position in Amkor Technology by 83.5% in the 3rd quarter. FNY Investment Advisers LLC now owns 1,472 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 670 shares during the period. Finally, Essex Investment Management Co. LLC purchased a new position in Amkor Technology in the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insider Transactions at Amkor Technology

In other news, CEO Kevin K. Engel sold 12,500 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $48.75, for a total value of $609,375.00. Following the completion of the sale, the chief executive officer directly owned 2,953 shares of the company’s stock, valued at $143,958.75. This represents a 80.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Guillaume Marie Jean Rutten sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $48.80, for a total transaction of $976,000.00. Following the transaction, the director owned 543,866 shares of the company’s stock, valued at approximately $26,540,660.80. This represents a 3.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,500 shares of company stock valued at $2,105,225 over the last three months. Corporate insiders own 26.40% of the company’s stock.

Amkor Technology Stock Up 0.7%

Shares of AMKR stock opened at $77.22 on Thursday. The company has a 50 day simple moving average of $54.11 and a two-hundred day simple moving average of $46.23. The stock has a market cap of $19.14 billion, a P/E ratio of 44.13 and a beta of 2.29. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. Amkor Technology, Inc. has a 12 month low of $17.18 and a 12 month high of $79.23.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. On average, research analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th were paid a $0.0835 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.4%. Amkor Technology’s dividend payout ratio is 18.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMKR. Morgan Stanley lifted their target price on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Amkor Technology in a report on Monday, April 20th. UBS Group set a $43.00 target price on shares of Amkor Technology in a research note on Tuesday, February 10th. B. Riley Financial boosted their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $62.75.

Amkor Technology Profile

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.