Bridgewater Associates LP Buys 21,476 Shares of Amkor Technology, Inc. (NASDAQ:AMKR)

Bridgewater Associates LP grew its stake in Amkor Technology, Inc. (NASDAQ:AMKR) by 5.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 444,127 shares of the semiconductor company’s stock after acquiring an additional 21,476 shares during the period. Bridgewater Associates LP’s holdings in Amkor Technology were worth $13,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in Amkor Technology by 24,383.3% in the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after acquiring an additional 3,772,095 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Amkor Technology in the second quarter valued at approximately $58,379,000. Ceredex Value Advisors LLC bought a new position in shares of Amkor Technology during the third quarter worth approximately $42,610,000. Millennium Management LLC lifted its holdings in Amkor Technology by 359.7% during the 2nd quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock worth $54,439,000 after purchasing an additional 1,064,404 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Amkor Technology by 212.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after purchasing an additional 925,644 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $26.02 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $6.42 billion, a PE ratio of 17.58 and a beta of 1.85. The company has a 50 day moving average of $28.61 and a 200-day moving average of $32.56. Amkor Technology, Inc. has a 1-year low of $24.10 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Amkor Technology, Inc. will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be given a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 4th. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is currently 20.95%.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the sale, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 31.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMKR. Morgan Stanley lowered their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. DA Davidson lowered their price target on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” 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 report on Tuesday, October 29th. Needham & Company LLC lowered their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Amkor Technology has an average rating of “Moderate Buy” and a consensus target price of $36.29.

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.