Insider Selling: Amkor Technology (NASDAQ:AMKR) CFO Sells $35,000.00 in Stock

Key Points

• Amkor CFO Megan Faust sold 1,000 shares for $35,000 at $35 per share under a pre-arranged Rule 10b5-1 plan. She retained 132,105 shares, and the sale reduced her holdings by 0.75%.
• Amkor’s latest quarterly results fell short of expectations: EPS was $0.76 versus $0.78 forecast, and revenue was $1.99 billion versus $2.04 billion expected.
• Analysts’ consensus rating is Hold, with an average price target of $62.12; shares recently traded at $37.12.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) CFO Megan Faust sold 1,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $35.00, for a total value of $35,000.00. Following the transaction, the chief financial officer owned 132,105 shares of the company's stock, valued at $4,623,675. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 13th, Megan Faust sold 1,000 shares of Amkor Technology stock. The shares were sold at an average price of $46.92, for a total value of $46,920.00.
• On Tuesday, September 8th, Megan Faust sold 1,000 shares of Amkor Technology stock. The shares were sold at an average price of $49.05, for a total value of $49,050.00.

Amkor Technology Price Performance

Amkor Technology stock traded down $0.98 during mid-day trading on Thursday, hitting $37.12. 2,692,886 shares of the company were exchanged, compared to its average volume of 4,928,399. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.89. The business's 50 day simple moving average is $45.83 and its two-hundred day simple moving average is $56.46. The company has a market capitalization of $9.20 billion, a P/E ratio of 14.97, a PEG ratio of 0.43 and a beta of 2.39. Amkor Technology, Inc. has a 12-month low of $29.76 and a 12-month high of $96.68.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.04 billion. Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. The firm's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. Analysts forecast that Amkor Technology, Inc. will post 2.50 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group set a $56.00 price objective on shares of Amkor Technology in a research report on Tuesday, October 27th. Zacks Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. UBS Group raised shares of Amkor Technology from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $80.00 to $90.00 in a research note on Friday, July 24th. Needham & Company LLC cut their price target on Amkor Technology from $90.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, October 27th. Finally, Bank of America assumed coverage on Amkor Technology in a research note on Thursday, August 27th. They set a "buy" rating and a $70.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $62.12.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMKR. BlackRock Inc. purchased a new stake in Amkor Technology in the second quarter valued at approximately $1,060,005,000. Principal Financial Group Inc. raised its stake in Amkor Technology by 19.3% during the first 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 during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in Amkor Technology by 17.5% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,072,000 shares of the semiconductor company's stock worth $108,651,000 after purchasing an additional 308,000 shares during the period. Fisher Asset Management LLC raised its stake in Amkor Technology by 9.9% during 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 period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Amkor Technology in the 2nd quarter valued at $90,656,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Amkor Technology Company Profile

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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