Roger Anthony Carolin Sells 20,000 Shares of Amkor Technology (NASDAQ:AMKR) Stock

Key Points

• Director Roger Anthony Carolin sold 20,000 shares on May 5 at an average price of $76.24 for about $1.52M, cutting his position by 17.48% to 94,409 shares, as disclosed in an SEC filing.
• Amkor beat Q1 expectations with EPS of $0.33 (vs. $0.23 est.) and revenue of $1.68B (up 27.5% YoY), yet the stock fell roughly 6.4% to $72.27.
• The company has a market cap of $17.91B, a PE of 41.3, recently initiated a quarterly dividend of $0.0835 (0.5% yield), and carries an analyst consensus of "Hold" with an average price target of $62.75 while some firms raised targets to $65.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) Director Roger Anthony Carolin sold 20,000 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $76.24, for a total value of $1,524,800.00. Following the completion of the transaction, the director owned 94,409 shares in the company, valued at approximately $7,197,742.16. This trade represents a 17.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Amkor Technology Stock Down 6.4%

Shares of NASDAQ:AMKR traded down $4.95 during trading on Thursday, hitting $72.27. The company's stock had a trading volume of 4,554,880 shares, compared to its average volume of 4,580,096. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. Amkor Technology, Inc. has a fifty-two week low of $17.59 and a fifty-two week high of $79.23. The stock's 50-day moving average price is $54.11 and its two-hundred day moving average price is $46.23. The company has a market capitalization of $17.91 billion, a PE ratio of 41.30 and a beta of 2.29.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company's revenue was up 27.5% compared to the same quarter last year. As a group, sell-side analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 12th were issued a $0.0835 dividend. This represents a $0.33 annualized dividend 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%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMKR. 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 report on Tuesday, February 10th. Wall Street Zen lowered Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Zacks Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. Finally, The Goldman Sachs Group boosted their price objective on Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $62.75.

Hedge Funds Weigh In On Amkor Technology

Institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. lifted its holdings in shares of Amkor Technology by 12.5% in the first quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 135 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Amkor Technology by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,799 shares of the semiconductor company's stock valued at $387,000 after purchasing an additional 202 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Amkor Technology by 0.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 36,221 shares of the semiconductor company's stock valued at $1,430,000 after purchasing an additional 218 shares during the last quarter. Evolve Private Wealth LLC boosted its position in Amkor Technology by 3.0% during the first quarter. Evolve Private Wealth LLC now owns 7,615 shares of the semiconductor company's stock valued at $343,000 after purchasing an additional 222 shares during the last quarter. Finally, Strs Ohio boosted its position in Amkor Technology by 8.6% during the first quarter. Strs Ohio now owns 2,971 shares of the semiconductor company's stock valued at $134,000 after purchasing an additional 235 shares during the last quarter. 42.76% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.