Amkor Technology, Inc. (AMKR): Are Hedge Funds Right About This Stock?

As one would reasonably expect, key money managers were breaking ground themselves. Millennium Management, led by Israel Englander, assembled the most valuable position in Amkor Technology, Inc. (NASDAQ:AMKR). Millennium Management had $3.6 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $1.2 million investment in the stock during the quarter. The following funds were also among the new AMKR investors: Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, Ken Griffin’s Citadel Investment Group, and George Hall’s Clinton Group.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Amkor Technology, Inc. (NASDAQ:AMKR) but similarly valued. These stocks are La-Z-Boy Incorporated (NYSE:LZB), Renasant Corp. (NASDAQ:RNST), SkyWest, Inc. (NASDAQ:SKYW), and Weis Markets, Inc. (NYSE:WMK). This group of stocks’ market valuations are closest to AMKR’s market valuation.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $70 million. That figure was $123 million in AMKR’s case. La-Z-Boy Incorporated (NYSE:LZB) is the most popular stock in this table. On the other hand Renasant Corp. (NASDAQ:RNST) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Amkor Technology, Inc. (NASDAQ:AMKR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None