Hanson & Doremus Investment Management Lowers Stock Holdings in Amkor Technology, Inc. (NASDAQ:AMKR)

Hanson & Doremus Investment Management cut its holdings in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 16.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,575 shares of the semiconductor company’s stock after selling 5,815 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Amkor Technology were worth $734,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Amkor Technology by 24,383.3% during the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after buying an additional 3,772,095 shares during the last quarter. State Street Corp grew its position in Amkor Technology by 5.6% during the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock valued at $102,688,000 after acquiring an additional 176,528 shares during the period. Geode Capital Management LLC increased its stake 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 worth $64,101,000 after acquiring an additional 131,106 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Amkor Technology by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company’s stock worth $57,495,000 after purchasing an additional 88,226 shares during the period. Finally, FMR LLC lifted its stake in shares of Amkor Technology by 35.7% in the 3rd quarter. FMR LLC now owns 1,555,392 shares of the semiconductor company’s stock valued at $47,595,000 after purchasing an additional 409,241 shares in the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMKR shares. Morgan Stanley cut their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock 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 report on Monday, January 6th. Melius downgraded Amkor Technology from a “buy” rating to a “hold” rating and lowered their price target for the company from $34.00 to $30.00 in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, DA Davidson lowered their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.50.

Amkor Technology Stock Up 1.9 %

Shares of NASDAQ AMKR opened at $24.52 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. Amkor Technology, Inc. has a 1 year low of $23.36 and a 1 year high of $44.86. The stock’s 50-day simple moving average is $26.05 and its 200-day simple moving average is $29.33. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 16.57 and a beta of 1.83.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. Amkor Technology’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, equities analysts anticipate that Amkor Technology, Inc. will post 1.38 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Wednesday, December 4th. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is 22.30%.

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.