Amkor Technology (NASDAQ:AMKR) Director Sells $382,900.00 in Stock

Key Points

• Director Douglas Alexander sold 5,000 shares on May 5 at an average price of $76.58 for $382,900, cutting his position by 14.66% to 29,109 shares (valued at about $2.23M).
• Amkor beat Q1 expectations, reporting EPS of $0.33 vs. $0.23 expected and revenue of $1.68 billion, up 27.5% year‑over‑year.
• The stock has a market consensus of "Hold" with a $62.75 target, even as several analysts raised price targets recently (e.g., Morgan Stanley to $69, JPMorgan to $65, B. Riley to $70).

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) Director Douglas Alexander sold 5,000 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the director directly owned 29,109 shares of the company's stock, valued at $2,229,167.22. The trade was a 14.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR traded down $4.95 during midday trading on Thursday, hitting $72.27. The company's stock had a trading volume of 4,554,880 shares, compared to its average volume of 4,580,096. The company has a market cap of $17.91 billion, a P/E ratio of 41.30 and a beta of 2.29. Amkor Technology, Inc. has a 12-month low of $17.59 and a 12-month high of $79.23. The business's 50 day simple moving average is $54.11 and its 200 day simple moving average is $46.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.10. The company 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%. Amkor Technology's revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. On average, analysts forecast that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th were issued a $0.0835 dividend. The ex-dividend date was Thursday, March 12th. This represents a $0.33 dividend on an annualized basis and a yield of 0.5%. Amkor Technology's dividend payout ratio is presently 18.86%.

Analyst Ratings Changes

A number of research firms have commented on AMKR. 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 report on Tuesday, April 28th. JPMorgan Chase & Co. raised their target price on Amkor Technology from $32.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. B. Riley Financial raised their target price on Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Zacks Research downgraded Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 25th. Finally, William Blair raised Amkor Technology to a "neutral" rating in a research note on Monday, January 12th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Amkor Technology currently has a consensus rating of "Hold" and a consensus target price of $62.75.

Hedge Funds Weigh In On Amkor Technology

Several large investors have recently modified their holdings of AMKR. Royal Bank of Canada increased its position in shares of Amkor Technology by 100.6% during the 1st quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock worth $349,000 after purchasing an additional 3,454,012 shares during the last quarter. Fisher Asset Management LLC boosted its stake in 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 worth $82,712,000 after buying an additional 1,407,109 shares during the period. Norges Bank acquired a new stake in shares of Amkor Technology during the fourth quarter valued at about $53,702,000. Arrowstreet Capital Limited Partnership increased its position in shares of Amkor Technology by 305.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,574,607 shares of the semiconductor company's stock valued at $44,719,000 after acquiring an additional 1,186,313 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Amkor Technology by 38.3% in the 2nd quarter. AQR Capital Management LLC now owns 3,558,040 shares of the semiconductor company's stock valued at $74,541,000 after acquiring an additional 985,727 shares during the period. Institutional investors and hedge funds own 42.76% of the company's stock.

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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