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 $3.71 million. After the sale, he still held 502,558 shares, and the transaction reduced his stake by 9.05%.
- Amkor posted stronger-than-expected quarterly results, reporting EPS of $0.33 versus the $0.23 consensus and revenue of $1.68 billion, up 27.5% year over year. Analysts expect the company to earn $2.08 per share for the current fiscal year.
- Wall Street remains cautious on AMKR despite recent price target increases, with a consensus rating of “Hold” and an average target price of $62.75. Shares were trading near $73.45, close to their 52-week high of $79.23.
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 on Friday, May 8th. The shares were sold at an average price of $74.28, for a total value of $3,714,000.00. Following the completion of the sale, the director directly owned 502,558 shares in the company, 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 Securities & Exchange Commission, which is available through this link.
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 value of $976,000.00.
Amkor Technology Price Performance
Shares of AMKR stock opened at $73.45 on Wednesday. The stock's fifty day simple moving average is $56.18 and its 200 day simple 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. The firm has a market cap of $18.21 billion, a price-to-earnings ratio of 41.97 and a beta of 2.29. Amkor Technology, Inc. has a one year low of $17.79 and a one year high of $79.23.
Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating 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 analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm earned $0.09 EPS. Amkor Technology's quarterly revenue was up 27.5% on a year-over-year basis. On average, analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.
Amkor Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th were given a $0.0835 dividend. The ex-dividend date was Thursday, March 12th. This represents a $0.33 annualized dividend and a yield of 0.5%. Amkor Technology's payout ratio is presently 18.86%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Himension Capital Singapore PTE. LTD. acquired a new position in Amkor Technology in the first quarter valued at about $1,822,000. PNC Financial Services Group Inc. grew its stake in Amkor Technology by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 7,726 shares of the semiconductor company's stock valued at $348,000 after acquiring an additional 1,758 shares during the period. Convergence Investment Partners LLC acquired a new position in Amkor Technology in the first quarter valued at about $2,801,000. Hollencrest Capital Management acquired a new position in Amkor Technology in the first quarter valued at about $45,000. Finally, Meeder Asset Management Inc. grew its stake in Amkor Technology by 62.5% in the first quarter. Meeder Asset Management Inc. now owns 30,139 shares of the semiconductor company's stock valued at $1,357,000 after acquiring an additional 11,589 shares during the period. 42.76% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AMKR has been the subject of several research analyst reports. UBS Group set a $43.00 price objective on Amkor Technology in a research report on Tuesday, February 10th. B. Riley Financial lifted their price objective on Amkor Technology from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Morgan Stanley lifted their price objective 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. Wall Street Zen downgraded Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Finally, The Goldman Sachs Group lifted their price objective on Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. 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 company currently has a consensus rating of "Hold" and an average target price of $62.75.
Get Our Latest Report on Amkor Technology
Amkor Technology Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
