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 trading plan and reduced his direct holdings by 11.39%.
- The stock has been trading higher, with shares up 4.5% and opening at $68.49. Amkor is near its 52-week high of $79.23 and has been supported by strong recent operating performance.
- Amkor posted a quarterly earnings beat, reporting EPS of $0.33 versus estimates of $0.23 on revenue of $1.68 billion, up 27.5% year over year. The company also announced a quarterly dividend of $0.0835 per share, payable June 23.
Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) CFO Megan Faust sold 1,000 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $64.60, for a total value of $64,600.00. Following the transaction, the chief financial officer owned 133,138 shares in the company, valued at approximately $8,600,714.80. This trade represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amkor Technology Trading Up 4.5%
NASDAQ AMKR opened at $68.49 on Thursday. The firm has a market cap of $16.98 billion, a P/E ratio of 39.14 and a beta of 2.29. 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 stock's 50-day moving average is $59.17 and its 200-day moving average is $49.01. 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 released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 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 analyst estimates 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 was up 27.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Sell-side analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.
Amkor Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.0835 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. Amkor Technology's dividend payout ratio (DPR) is currently 18.86%.
Institutional Investors Weigh In On Amkor Technology
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. raised its position in Amkor Technology by 72.1% in the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock valued at $26,000 after buying an additional 391 shares during the last quarter. IFP Advisors Inc raised its position in Amkor Technology by 91.2% in the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after buying an additional 447 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Amkor Technology by 180.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company's stock valued at $28,000 after buying an additional 440 shares during the last quarter. Root Financial Partners LLC raised its position in Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after buying an additional 262 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Amkor Technology by 61.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock valued at $40,000 after buying an additional 854 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.
Wall Street Analysts Forecast Growth
AMKR has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Amkor Technology from $43.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. UBS Group set a $43.00 price target on Amkor Technology in a research report on Tuesday, February 10th. Zacks Research lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Morgan Stanley raised their price target on Amkor Technology from $45.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Finally, Needham & Company LLC raised their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $62.75.
View Our Latest Research Report on Amkor Technology
More Amkor Technology News
Here are the key news stories impacting Amkor Technology this week:
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.
Further Reading
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].
