Retirement Systems of Alabama Buys 10,069 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Retirement Systems of Alabama grew its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,679 shares of the semiconductor company’s stock after acquiring an additional 10,069 shares during the period. Retirement Systems of Alabama’s holdings in Amkor Technology were worth $4,213,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AMKR. Northwestern Mutual Wealth Management Co. increased its stake in shares of Amkor Technology by 8.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 333 shares during the period. Ritholtz Wealth Management increased its position in Amkor Technology by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock worth $665,000 after buying an additional 357 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in shares of Amkor Technology by 2.2% during the second quarter. Miller Howard Investments Inc. NY now owns 22,852 shares of the semiconductor company’s stock worth $915,000 after buying an additional 481 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Amkor Technology by 46.3% in the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 580 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Amkor Technology by 2.0% in the second quarter. Arizona State Retirement System now owns 31,010 shares of the semiconductor company’s stock valued at $1,241,000 after acquiring an additional 616 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

Insider Activity at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 31.40% of the stock is currently owned by company insiders.

Amkor Technology Stock Down 1.6 %

Shares of NASDAQ AMKR opened at $25.13 on Friday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 16.98 and a beta of 1.84. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Amkor Technology, Inc. has a 12 month low of $24.10 and a 12 month high of $44.86. The stock has a 50-day moving average price of $27.30 and a two-hundred day moving average price of $31.83.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.84 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. Amkor Technology’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts forecast that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th will be paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. Amkor Technology’s dividend payout ratio is presently 22.30%.

Analysts Set New Price Targets

A number of research firms have issued reports on AMKR. KeyCorp cut their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. The Goldman Sachs Group cut their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Finally, DA Davidson reduced their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.29.

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.