Insider Selling: Amkor Technology (NASDAQ:AMKR) Director Sells 15,000 Shares of Stock

Key Points

• Amkor Technology director Gil Tily sold 15,000 shares on May 11 at an average price of $77.30, for proceeds of about $1.16 million. After the sale, he still held 108,806 shares, a 12.12% reduction in his position.
• The company recently beat quarterly expectations, reporting EPS of $0.33 versus the $0.23 consensus and revenue of $1.68 billion versus $1.63 billion expected. Revenue rose 27.5% year over year.
• Wall Street remains cautious overall, with a consensus rating of “Hold” and an average price target of $62.75, even as several analysts recently raised targets or upgraded the stock. Amkor also trades near its 12-month high of $79.23.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) Director Gil Tily sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the director 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 SEC, which is available through the SEC website.

Amkor Technology Price Performance

AMKR stock traded up $1.16 during mid-day trading on Wednesday, reaching $74.61. 3,313,618 shares of the company's stock were exchanged, compared to its average volume of 4,552,125. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 42.63 and a beta of 2.29. The stock's 50 day moving average is $56.18 and its 200 day moving average is $47.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. Amkor Technology, Inc. has a 12-month low of $17.79 and a 12-month high of $79.23.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.10. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.Amkor Technology's revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, research analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th were given a dividend of $0.0835 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.33 dividend on an annualized basis and a yield of 0.4%. Amkor Technology's dividend payout ratio is currently 18.86%.

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. increased its holdings in shares of Amkor Technology by 72.1% in the third quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 391 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Amkor Technology by 91.2% in the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 447 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Amkor Technology by 180.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 440 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Amkor Technology by 38.8% in the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 262 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Amkor Technology by 61.8% in the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 854 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMKR shares. B. Riley Financial increased their price target on Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Melius Research upgraded Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 target price on the stock in a research report on Monday, April 6th. Morgan Stanley raised their target price on Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. raised their target price on Amkor Technology from $32.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen downgraded Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $62.75.

About Amkor Technology

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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