Amkor Technology (NASDAQ:AMKR) CFO Sells $64,600.00 in Stock

Key Points

• Amkor Technology CFO Megan Faust sold 1,000 shares at an average price of $64.60, for a total of $64,600. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Amkor’s recent earnings beat expectations, posting $0.33 EPS versus the $0.23 consensus and revenue of $1.68 billion versus $1.63 billion expected. Revenue rose 27.5% year over year.
• The company also announced a quarterly dividend of $0.0835 per share, payable June 23, implying an annualized yield of about 0.5%.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) CFO Megan Faust sold 1,000 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $64.60, for a total transaction of $64,600.00. Following the completion of the sale, the chief financial officer owned 133,138 shares of the company's stock, valued at approximately $8,600,714.80. This represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amkor Technology Stock Performance

AMKR stock traded up $2.95 during trading hours on Wednesday, reaching $68.49. The stock had a trading volume of 3,033,280 shares, compared to its average volume of 4,515,900. The stock has a market capitalization of $16.98 billion, a PE ratio of 39.14 and a beta of 2.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The stock has a 50-day simple moving average of $58.66 and a 200 day simple moving average of $48.76. Amkor Technology, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $79.23.

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

Amkor Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be given 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 0.5%. Amkor Technology's dividend payout ratio is presently 18.86%.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds have recently bought and sold shares of AMKR. Royal Bank of Canada increased its position in Amkor Technology by 100.6% during the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock worth $349,000 after acquiring an additional 3,454,012 shares during the period. Advisors Asset Management Inc. increased its position in Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock worth $40,000 after acquiring an additional 854 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amkor Technology by 913.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company's stock worth $136,000 after acquiring an additional 6,768 shares during the period. Goldman Sachs Group Inc. increased its position in Amkor Technology by 73.4% during the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company's stock worth $9,476,000 after acquiring an additional 222,107 shares during the period. Finally, Caxton Associates LLP bought a new position in Amkor Technology during the first quarter worth about $271,000. 42.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Melius Research raised shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price objective on the stock in a research report on Monday, April 6th. B. Riley Financial increased their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Needham & Company LLC increased their price objective on shares of Amkor Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Morgan Stanley increased their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Finally, The Goldman Sachs Group increased their price objective on shares of Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a research 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 company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $62.75.

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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