Convergence Investment Partners LLC Buys New Shares in Amkor Technology, Inc. (NASDAQ:AMKR)

Convergence Investment Partners LLC bought a new stake in Amkor Technology, Inc. (NASDAQ:AMKR) in the second quarter, HoldingsChannel reports. The fund bought 51,565 shares of the semiconductor company’s stock, valued at approximately $635,000.

Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG lifted its stake in shares of Amkor Technology by 49.9% during the 4th quarter. UBS Group AG now owns 73,520 shares of the semiconductor company’s stock worth $956,000 after buying an additional 24,475 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Amkor Technology by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 2,194,177 shares of the semiconductor company’s stock worth $28,523,000 after buying an additional 252,205 shares during the last quarter. Norges Bank acquired a new stake in shares of Amkor Technology during the 4th quarter worth about $25,927,000. Nuveen Asset Management LLC lifted its stake in shares of Amkor Technology by 16.6% during the 4th quarter. Nuveen Asset Management LLC now owns 734,473 shares of the semiconductor company’s stock worth $9,548,000 after buying an additional 104,705 shares during the last quarter. Finally, Alpha Windward LLC lifted its stake in shares of Amkor Technology by 4.9% during the 1st quarter. Alpha Windward LLC now owns 38,760 shares of the semiconductor company’s stock worth $302,000 after buying an additional 1,800 shares during the last quarter. 37.72% of the stock is owned by institutional investors and hedge funds.

AMKR traded down $0.57 during trading on Friday, reaching $13.60. 1,472,132 shares of the company’s stock were exchanged, compared to its average volume of 1,452,410. Amkor Technology, Inc. has a one year low of $5.40 and a one year high of $15.80. The company has a current ratio of 2.06, a quick ratio of 1.83 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.28 billion, a PE ratio of 12.03 and a beta of 1.72. The firm has a fifty day moving average price of $12.23 and a two-hundred day moving average price of $10.79.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.25. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.05 billion. Amkor Technology had a net margin of 5.94% and a return on equity of 13.77%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) EPS. Sell-side analysts expect that Amkor Technology, Inc. will post 1 earnings per share for the current year.

In other news, CFO Megan Faust sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $11.07, for a total value of $49,815.00. Following the transaction, the chief financial officer now owns 11,719 shares in the company, valued at approximately $129,729.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Guillaume Marie Jean Rutten sold 7,838 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $12.85, for a total transaction of $100,718.30. Following the completion of the transaction, the executive vice president now owns 7,838 shares in the company, valued at approximately $100,718.30. The disclosure for this sale can be found here. Insiders sold a total of 71,338 shares of company stock worth $1,031,053 in the last 90 days. Corporate insiders own 59.30% of the company’s stock.

Several analysts have weighed in on AMKR shares. Deutsche Bank lifted their price objective on shares of Amkor Technology from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Tuesday, April 28th. Zacks Investment Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday. ValuEngine lowered shares of Amkor Technology from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 28th. reissued a “sell” rating on shares of Amkor Technology in a report on Tuesday, June 9th. Finally, Citigroup decreased their target price on shares of Amkor Technology from $12.00 to $9.20 and set a “sell” rating on the stock in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Amkor Technology presently has a consensus rating of “Hold” and an average price target of $11.94.

Amkor Technology Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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

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