Channing Capital Management LLC Sells 3,240 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Channing Capital Management LLC trimmed its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,648 shares of the semiconductor company’s stock after selling 3,240 shares during the quarter. Channing Capital Management LLC’s holdings in Amkor Technology were worth $6,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new position in shares of Amkor Technology during the 3rd quarter worth $930,000. Valley Wealth Managers Inc. lifted its position in Amkor Technology by 115.1% during the third quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock valued at $22,359,000 after purchasing an additional 391,002 shares in the last quarter. Geode Capital Management LLC grew its holdings in Amkor Technology by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after purchasing an additional 131,106 shares during the period. Principal Financial Group Inc. increased its position in Amkor Technology by 212.6% in the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock worth $41,647,000 after buying an additional 925,644 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Amkor Technology by 162.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 194,000 shares of the semiconductor company’s stock worth $5,936,000 after buying an additional 120,208 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Trading Down 4.4 %

Shares of AMKR stock opened at $19.82 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.86 and a beta of 1.88. Amkor Technology, Inc. has a 12-month low of $19.65 and a 12-month high of $44.86. The stock’s 50-day moving average price is $23.85 and its 200-day moving average price is $26.87.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. Equities research analysts predict that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be paid a $0.0827 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.67%. Amkor Technology’s payout ratio is currently 23.08%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMKR shares. JPMorgan Chase & Co. cut their price objective on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. B. Riley decreased their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of Amkor Technology in a report on Tuesday, February 11th. Finally, Morgan Stanley decreased their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amkor Technology has an average rating of “Hold” and a consensus price target of $31.50.

Insider Transactions at Amkor Technology

In other news, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. The trade was a 7.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the transaction, the executive vice president now directly owns 1,388 shares in the company, valued at approximately $30,105.72. This represents a 79.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

About Amkor Technology

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.