Insider Selling: Amkor Technology (NASDAQ:AMKR) EVP Sells 5,000 Shares of Stock

Key Points

• Amkor Technology EVP Mark Rogers sold 5,000 shares on May 18 at an average price of $71.63, totaling about $358,150. The sale was made under a pre-arranged Rule 10b5-1 plan.
• Despite the insider sale, Amkor’s recent earnings beat expectations, reporting $0.33 EPS versus the $0.23 consensus estimate. Quarterly revenue rose 27.5% year over year to $1.68 billion.
• The company also announced a quarterly dividend of $0.0835 per share, payable June 23, implying an annualized yield of about 0.5%. Analysts currently have a consensus rating of Hold with an average price target of $62.75.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) EVP Mark Rogers sold 5,000 shares of Amkor Technology stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $71.63, for a total value of $358,150.00. Following the completion of the transaction, the executive vice president owned 38,904 shares of the company's stock, valued at approximately $2,786,693.52. The trade was a 11.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amkor Technology Stock Performance

Shares of AMKR traded up $2.95 during mid-day trading on Wednesday, hitting $68.49. The stock had a trading volume of 3,033,280 shares, compared to its average volume of 4,515,900. The company has a market cap of $16.98 billion, a PE ratio of 39.14 and a beta of 2.29. The company's fifty day simple moving average is $58.66 and its two-hundred day simple moving average is $48.76. 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, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $79.23.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (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 business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. The business's revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

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

Institutional Trading of Amkor Technology

Several hedge funds have recently added to or reduced their stakes in AMKR. Royal Bank of Canada raised its stake in Amkor Technology by 100.6% during the 1st quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock valued at $349,000 after acquiring an additional 3,454,012 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Amkor Technology by 61.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock worth $40,000 after buying an additional 854 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Amkor Technology by 913.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company's stock worth $136,000 after buying an additional 6,768 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Amkor Technology by 73.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company's stock worth $9,476,000 after buying an additional 222,107 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in shares of Amkor Technology in the 1st quarter worth $271,000. Institutional investors own 42.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Zacks Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. boosted their price objective on Amkor Technology from $32.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Melius Research raised Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 target price on the stock in a research note on Monday, April 6th. Wall Street Zen downgraded Amkor Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 21st. Finally, B. Riley Financial lifted their target price on Amkor Technology from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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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