Covea Finance Raises Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Covea Finance lifted its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 47.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,500 shares of the semiconductor company’s stock after acquiring an additional 20,000 shares during the quarter. Covea Finance’s holdings in Amkor Technology were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AMKR. Principal Financial Group Inc. raised its holdings 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 valued at $41,647,000 after acquiring an additional 925,644 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Amkor Technology by 7.9% in the 3rd quarter. Retirement Systems of Alabama now owns 137,679 shares of the semiconductor company’s stock valued at $4,213,000 after purchasing an additional 10,069 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Amkor Technology during the 3rd quarter worth $930,000. Geode Capital Management LLC grew its stake in shares of 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 worth $64,101,000 after purchasing an additional 131,106 shares in the last quarter. Finally, Barclays PLC increased its holdings in Amkor Technology by 99.5% in the third quarter. Barclays PLC now owns 405,400 shares of the semiconductor company’s stock valued at $12,406,000 after buying an additional 202,218 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMKR shares. Morgan Stanley decreased their price target on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group lowered their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC dropped their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.50.

Amkor Technology Stock Down 0.4 %

AMKR stock opened at $25.31 on Wednesday. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 17.10 and a beta of 1.83. The company has a fifty day moving average price of $26.26 and a 200 day moving average price of $30.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. Amkor Technology, Inc. has a 12 month low of $24.10 and a 12 month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company posted $0.54 earnings per share. Amkor Technology’s quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts expect that Amkor Technology, Inc. will post 1.42 earnings per share for the current year.

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were issued a dividend of $0.0827 per share. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Wednesday, December 4th. Amkor Technology’s dividend payout ratio is currently 22.30%.

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.