Amkor Technology (NASDAQ:AMKR) CFO Megan Faust Sells 1,000 Shares

Key Points

• Amkor Technology CFO Megan Faust sold 1,000 shares on June 9 at an average price of $70.30, totaling $70,300. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• The company reported strong quarterly results, with EPS of $0.33 versus the $0.23 estimate and revenue of $1.68 billion, up 27.5% year over year. Amkor also beat revenue expectations and posted improved profitability metrics.
• Amkor’s stock has rallied sharply, trading up 9.4% to $76.15 in Thursday trading, while analysts currently maintain a Hold consensus with a target price of $67.38. The company also announced a quarterly dividend of $0.0835 per share, payable June 23.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) CFO Megan Faust sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $70.30, for a total value of $70,300.00. Following the sale, the chief financial officer owned 132,138 shares in the company, valued at approximately $9,289,301.40. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Megan Faust also recently made the following trade(s):

• On Tuesday, May 19th, Megan Faust sold 1,000 shares of Amkor Technology stock. The shares were sold at an average price of $64.60, for a total value of $64,600.00.

Amkor Technology Trading Up 9.4%

AMKR traded up $6.54 during mid-day trading on Thursday, reaching $76.15. The stock had a trading volume of 5,261,750 shares, compared to its average volume of 4,680,081. The stock has a market capitalization of $18.88 billion, a P/E ratio of 43.51 and a beta of 2.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The firm's fifty day simple moving average is $66.62 and its two-hundred day simple moving average is $52.89. Amkor Technology, Inc. has a 52 week low of $19.79 and a 52 week high of $79.50.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $0.09 EPS. The firm's revenue was up 27.5% on a year-over-year basis. On average, equities analysts predict that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be paid a $0.0835 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 annualized dividend and a dividend yield of 0.4%. Amkor Technology's dividend payout ratio (DPR) is currently 18.86%.

Hedge Funds Weigh In On Amkor Technology

Several institutional investors have recently made changes to their positions in AMKR. Fisher Asset Management LLC increased its position in shares of Amkor Technology by 204.5% during the fourth quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company's stock valued at $82,712,000 after buying an additional 1,407,109 shares during the period. UBS Group AG increased its position in shares of Amkor Technology by 205.5% during the fourth quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company's stock valued at $49,534,000 after buying an additional 843,983 shares during the period. Black Swift Group LLC purchased a new position in shares of Amkor Technology during the fourth quarter valued at about $797,000. GF Fund Management CO. LTD. purchased a new position in shares of Amkor Technology during the fourth quarter valued at about $4,868,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Amkor Technology during the fourth quarter valued at about $841,000. Institutional investors and hedge funds own 42.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMKR shares. The Goldman Sachs Group raised their price objective on Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Needham & Company LLC lifted their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. UBS Group reiterated a "neutral" rating and set a $80.00 price target on shares of Amkor Technology in a report on Tuesday, May 26th. Finally, B. Riley Financial lifted their price target on Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $67.38.

Amkor Technology Company Profile

Amkor Technology, Inc NASDAQ: AMKR is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.

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