Jennison Associates LLC Increases Position in Amkor Technology, Inc. (NASDAQ:AMKR)

Jennison Associates LLC increased its stake in shares of Amkor Technology, Inc. (NASDAQ:AMKR) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,032 shares of the semiconductor company’s stock after acquiring an additional 9,771 shares during the quarter. Jennison Associates LLC’s holdings in Amkor Technology were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMKR. Norges Bank bought a new position in Amkor Technology during the fourth quarter worth $12,800,000. BlackRock Inc. increased its position in Amkor Technology by 14.9% during the fourth quarter. BlackRock Inc. now owns 10,521,970 shares of the semiconductor company’s stock worth $69,023,000 after acquiring an additional 1,368,384 shares during the period. Dimensional Fund Advisors LP increased its position in Amkor Technology by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,422,753 shares of the semiconductor company’s stock worth $114,293,000 after acquiring an additional 744,342 shares during the period. Two Sigma Investments LP increased its position in Amkor Technology by 124.6% during the fourth quarter. Two Sigma Investments LP now owns 739,674 shares of the semiconductor company’s stock worth $4,852,000 after acquiring an additional 410,327 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in Amkor Technology by 16.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,697,529 shares of the semiconductor company’s stock worth $17,696,000 after acquiring an additional 381,727 shares during the period. 38.13% of the stock is currently owned by institutional investors and hedge funds.

Amkor Technology stock traded down $0.18 on Wednesday, hitting $7.19. The company’s stock had a trading volume of 17,973 shares, compared to its average volume of 983,950. The firm has a market capitalization of $1.69 billion, a PE ratio of 13.75 and a beta of 2.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.36 and a quick ratio of 1.21. Amkor Technology, Inc. has a one year low of $5.72 and a one year high of $9.74.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.06. The firm had revenue of $895.00 million for the quarter, compared to analyst estimates of $883.32 million. Amkor Technology had a net margin of 2.26% and a return on equity of 6.03%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. Analysts predict that Amkor Technology, Inc. will post 0.19 earnings per share for the current fiscal year.

In other Amkor Technology news, insider John Charles Stone sold 25,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $8.64, for a total value of $216,000.00. Following the sale, the insider now owns 50,722 shares of the company’s stock, valued at approximately $438,238.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 59.60% of the company’s stock.

Several equities research analysts have issued reports on the stock. BidaskClub lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Zacks Investment Research lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. ValuEngine raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, TheStreet lowered shares of Amkor Technology from a “b-” rating to a “c” rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $7.75.

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Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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Institutional Ownership by Quarter for Amkor Technology (NASDAQ:AMKR)

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