Amkor Technology (NASDAQ:AMKR) Stock: Insider Kevin Engel Sells 1,000 Shares

Key Points

• CEO Kevin Engel sold 1,000 Amkor shares for $35,000 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 10.35% to 8,666 shares.
• Amkor’s latest quarter missed analyst expectations: earnings were $0.76 per share versus $0.78 expected, and revenue was $1.99 billion versus $2.04 billion expected, though revenue rose 0.2% year over year.
• Shares traded at $34.47, while analysts’ consensus rating was Hold with an average price target of $62.12; the stock had fallen substantially from its 52-week high of $96.68.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) CEO Kevin Engel sold 1,000 shares of the company's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the sale, the chief executive officer directly owned 8,666 shares of the company's stock, valued at $303,310. The trade was a 10.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amkor Technology Stock Performance

Amkor Technology stock traded down $0.53 during mid-day trading on Tuesday, reaching $34.47. 3,060,086 shares of the company's stock were exchanged, compared to its average volume of 4,932,968. The business's fifty day simple moving average is $46.24 and its 200 day simple moving average is $56.61. The company has a quick ratio of 1.89, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $8.54 billion, a PE ratio of 13.90, a P/E/G ratio of 0.45 and a beta of 2.39. Amkor Technology, Inc. has a one year low of $29.76 and a one year high of $96.68.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). Amkor Technology had a return on equity of 13.32% and a net margin of 8.30%. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter last year, the business posted $0.51 EPS. The business's quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts expect that Amkor Technology, Inc. will post 2.50 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd were paid a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, September 2nd. Amkor Technology's payout ratio is currently 13.31%.

Analyst Ratings Changes

A number of research analysts have recently commented on AMKR shares. Morgan Stanley reduced their price target on shares of Amkor Technology from $70.00 to $63.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 27th. Weiss Ratings lowered Amkor Technology from a "hold (c+)" rating to a "sell (d+)" rating in a research report on Wednesday, October 28th. UBS Group raised Amkor Technology from a "neutral" rating to a "buy" rating and raised their price objective for the company from $80.00 to $90.00 in a report on Friday, July 24th. Needham & Company LLC lowered their price objective on shares of Amkor Technology from $90.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, October 27th. Finally, Zacks Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Amkor Technology currently has a consensus rating of "Hold" and an average price target of $62.12.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Amkor Technology in the 2nd quarter worth approximately $1,060,005,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Amkor Technology in the 2nd quarter worth $152,110,000. Principal Financial Group Inc. increased its holdings in shares of Amkor Technology by 19.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,622,744 shares of the semiconductor company's stock worth $118,107,000 after purchasing an additional 423,629 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Amkor Technology by 9.9% in the third quarter. Fisher Asset Management LLC now owns 2,001,124 shares of the semiconductor company's stock worth $104,819,000 after purchasing an additional 179,577 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Amkor Technology in the second quarter worth $90,656,000. 42.76% of the stock is currently owned by institutional investors.

About Amkor Technology

Amkor Technology is a provider of outsourced semiconductor packaging and test services. It works with semiconductor companies to assemble and test integrated circuits before they are incorporated into electronic products. Its services include advanced packaging, wafer bumping, flip-chip packaging, wafer-level packaging, system-in-package solutions, and semiconductor testing. These technologies support applications in markets such as communications, automotive, computing, and consumer electronics.

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