Insider Selling: Amkor Technology (NASDAQ:AMKR) Director Sells 50,000 Shares of Stock

Key Points

• Amkor Technology director Guillaume Marie Jean Rutten sold 50,000 shares on May 8 at an average price of $74.28, totaling about $3.7 million. After the sale, he still held 502,558 shares valued at roughly $37.3 million.
• The company recently reported stronger-than-expected quarterly results, with EPS of $0.33 versus the $0.23 consensus and revenue of $1.68 billion, up 27.5% year over year.
• Analysts currently lean cautious on AMKR, with a consensus rating of “Hold” and an average price target of $62.75, despite several recent target and rating changes.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) Director Guillaume Marie Jean Rutten sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the transaction, the director directly owned 502,558 shares of the company's stock, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Guillaume Marie Jean Rutten also recently made the following trade(s):

• On Tuesday, February 24th, Guillaume Marie Jean Rutten sold 20,000 shares of Amkor Technology stock. The shares were sold at an average price of $48.80, for a total transaction of $976,000.00.

Amkor Technology Price Performance

NASDAQ:AMKR traded down $3.24 during mid-day trading on Tuesday, hitting $73.45. 3,406,023 shares of the stock traded hands, compared to its average volume of 4,565,801. The business's 50-day moving average price is $55.66 and its 200 day moving average price is $47.15. The company has a market cap of $18.21 billion, a PE ratio of 41.97 and a beta of 2.29. Amkor Technology, Inc. has a 12-month low of $17.79 and a 12-month high of $79.23. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 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 for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. On average, analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

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

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors have recently made changes to their positions in the business. Himension Capital Singapore PTE. LTD. purchased a new stake in shares of Amkor Technology in the 1st quarter valued at $1,822,000. PNC Financial Services Group Inc. boosted its stake in shares of Amkor Technology by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,726 shares of the semiconductor company's stock valued at $348,000 after purchasing an additional 1,758 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Amkor Technology in the 1st quarter valued at $2,801,000. Hollencrest Capital Management purchased a new stake in shares of Amkor Technology in the 1st quarter valued at $45,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Amkor Technology by 62.5% in the 1st quarter. Meeder Asset Management Inc. now owns 30,139 shares of the semiconductor company's stock valued at $1,357,000 after purchasing an additional 11,589 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMKR shares. Wall Street Zen cut shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 21st. Weiss Ratings reissued a "hold (c)" rating on shares of Amkor Technology in a research note on Monday, April 20th. The Goldman Sachs Group boosted their price target on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Zacks Research cut shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 25th. Finally, Melius Research raised shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a research note on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.75.

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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