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KBC Group NV Cuts Stake in Amkor Technology, Inc. (NASDAQ:AMKR)

Defense World · Aug 9, 2022 06:22

KBC Group NV reduced its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR – Get Rating) by 26.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,822 shares of the semiconductor company's stock after selling 14,080 shares during the period. KBC Group NV's holdings in Amkor Technology were worth $865,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Amkor Technology during the 4th quarter worth about $25,000. Byrne Asset Management LLC purchased a new position in Amkor Technology in the fourth quarter valued at approximately $37,000. Larson Financial Group LLC purchased a new position in Amkor Technology in the fourth quarter valued at approximately $41,000. First Quadrant LLC CA purchased a new position in Amkor Technology in the first quarter valued at approximately $38,000. Finally, Covestor Ltd purchased a new position in Amkor Technology in the fourth quarter valued at approximately $47,000. 59.68% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Amkor Technology

In other news, CFO Megan Faust sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $19.07, for a total transaction of $228,840.00. Following the completion of the sale, the chief financial officer now owns 8,512 shares of the company's stock, valued at $162,323.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Megan Faust sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $19.07, for a total transaction of $228,840.00. Following the completion of the sale, the chief financial officer now owns 8,512 shares of the company's stock, valued at $162,323.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Guillaume Marie Jean Rutten sold 60,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $22.01, for a total transaction of $1,320,600.00. Following the sale, the chief executive officer now directly owns 245,000 shares of the company's stock, valued at approximately $5,392,450. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,000 shares of company stock valued at $1,668,840. 56.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson started coverage on shares of Amkor Technology in a report on Wednesday, June 29th. They issued a "buy" rating and a $30.00 price target on the stock.

Amkor Technology Stock Down 1.3 %

Shares of NASDAQ:AMKR opened at $22.36 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.66 and a debt-to-equity ratio of 0.30. Amkor Technology, Inc. has a 52-week low of $14.89 and a 52-week high of $29.50. The company has a 50 day moving average of $18.44 and a two-hundred day moving average of $20.06. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 7.93 and a beta of 1.55.

Amkor Technology (NASDAQ:AMKR – Get Rating) last issued its quarterly earnings data on Monday, August 1st. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Amkor Technology had a net margin of 10.65% and a return on equity of 22.93%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company earned $0.51 earnings per share. Amkor Technology's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that Amkor Technology, Inc. will post 2.92 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 27th. Stockholders of record on Tuesday, June 7th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Monday, June 6th. Amkor Technology's payout ratio is currently 7.09%.

Amkor Technology Company Profile

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Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the rest of the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, and test and drop shipment services.