Clearline Capital LP Makes New Investment in Amkor Technology, Inc. (NASDAQ:AMKR)

Clearline Capital LP bought a new stake in Amkor Technology, Inc. (NASDAQ:AMKR) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 102,448 shares of the semiconductor company’s stock, valued at approximately $3,135,000.

Several other hedge funds have also modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in Amkor Technology by 74.4% in the 3rd quarter. Captrust Financial Advisors now owns 11,450 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 4,886 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Amkor Technology by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,890 shares of the semiconductor company’s stock valued at $8,595,000 after purchasing an additional 14,389 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Amkor Technology by 7.2% in the third quarter. MetLife Investment Management LLC now owns 58,567 shares of the semiconductor company’s stock valued at $1,792,000 after purchasing an additional 3,956 shares during the period. Glenmede Trust Co. NA grew its holdings in Amkor Technology by 642.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 339,172 shares of the semiconductor company’s stock valued at $10,379,000 after purchasing an additional 293,462 shares in the last quarter. Finally, Bridgewater Associates LP lifted its holdings in Amkor Technology by 5.1% in the 3rd quarter. Bridgewater Associates LP now owns 444,127 shares of the semiconductor company’s stock worth $13,590,000 after buying an additional 21,476 shares in the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMKR has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price 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. Morgan Stanley lowered their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC cut their target price on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. The Goldman Sachs Group decreased their price target 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 cut their price target on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Four 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.29.

Amkor Technology Price Performance

Shares of NASDAQ AMKR opened at $26.44 on Monday. Amkor Technology, Inc. has a 1-year low of $24.10 and a 1-year high of $44.86. The firm has a market capitalization of $6.52 billion, a PE ratio of 17.86 and a beta of 1.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The business’s fifty day moving average price is $28.41 and its two-hundred day moving average price is $32.46.

Amkor Technology (NASDAQ:AMKR) last issued 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). The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. On average, research analysts expect that Amkor Technology, Inc. will post 1.42 EPS for the current year.

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, December 4th will be paid a dividend of $0.0827 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.33 annualized dividend and a yield of 1.25%. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio (DPR) is currently 20.95%.

Insider Activity

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 approximately $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 31.40% of the company’s stock.

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.