Amkor Technology (NASDAQ:AMKR) Shares Down 3.4% After Insider Selling

Key Points

• Amkor Technology shares fell 3.4% after insider selling, with the stock trading as low as $72.00 during the session.
• Director Gil C. Tily sold 15,000 shares, and Director Guillaume Marie Jean Rutten sold 50,000 shares, both disclosed in SEC filings.
• Despite the stock drop, Amkor recently beat quarterly earnings and revenue expectations, reporting $0.33 EPS on $1.68 billion in revenue, while analysts currently rate the stock an average Hold.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report)'s stock price fell 3.4% on Thursday after an insider sold shares in the company. The stock traded as low as $72.00 and last traded at $72.09. 4,814,115 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 4,555,097 shares. The stock had previously closed at $74.61.

Specifically, Director Gil C. Tily sold 15,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total value of $1,159,500.00. Following the completion of the sale, the director directly owned 108,806 shares in the company, valued at $8,410,703.80. This represents a 12.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $74.28, for a total value of $3,714,000.00. Following the completion of the sale, the director owned 502,558 shares of the company's stock, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMKR. Melius Research upgraded Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a report on Monday, April 6th. UBS Group set a $43.00 price target on Amkor Technology in a report on Tuesday, February 10th. Wall Street Zen cut Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Zacks Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $62.75.

Amkor Technology Stock Down 3.4%

The business has a fifty day moving average of $56.71 and a 200 day moving average of $47.75. The company has a market capitalization of $17.87 billion, a PE ratio of 41.19 and a beta of 2.29. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its 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. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period last year, the business posted $0.09 EPS. Amkor Technology's revenue for the quarter was up 27.5% on a year-over-year basis. Equities research analysts anticipate that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.0835 per share. This represents a $0.33 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's dividend payout ratio (DPR) is 18.86%.

Hedge Funds Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in Amkor Technology by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 391 shares during the period. IFP Advisors Inc boosted its holdings in Amkor Technology by 91.2% during the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 447 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Amkor Technology by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 440 shares during the period. Root Financial Partners LLC boosted its holdings in Amkor Technology by 38.8% during the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 262 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Amkor Technology by 61.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock valued at $40,000 after acquiring an additional 854 shares during the period. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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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