Key Points
- Amkor CEO Kevin Engel sold 1,000 shares for $35,000 at $35 per share under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 10.35% to 8,666 shares.
- Amkor’s latest quarterly results missed expectations: earnings were $0.76 per share versus $0.78 forecast, and revenue was $1.99 billion versus $2.04 billion expected. Revenue was up 0.2% year over year.
- Analysts’ consensus rating is Hold, with a $62.12 average price target; the stock opened at $34.47 and was trading below its 50- and 200-day moving averages.
Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) CEO Kevin Engel sold 1,000 shares of the company's stock in a transaction on Monday, November 9th. The shares were sold at an average price of $35.00, for a total value of $35,000.00. Following the transaction, the chief executive officer directly owned 8,666 shares in the company, valued at approximately $303,310. The trade was a 10.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amkor Technology Trading Down 1.5%
Amkor Technology stock opened at $34.47 on Wednesday. Amkor Technology, Inc. has a one year low of $29.76 and a one year high of $96.68. The business's fifty day moving average is $45.98 and its 200 day moving average is $56.52. The stock has a market capitalization of $8.54 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.44 and a beta of 2.39. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.89.
Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its earnings results on Monday, October 26th. The semiconductor company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). Amkor Technology had a return on equity of 13.32% and a net margin of 8.30%. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.04 billion. During the same period last year, the firm posted $0.51 EPS. Amkor Technology's quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Amkor Technology, Inc. will post 2.50 EPS for the current year.
Analyst Ratings Changes
A number of analysts recently commented on the company. Morgan Stanley reduced their price objective on Amkor Technology from $70.00 to $63.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 27th. Wall Street Zen cut Amkor Technology from a "buy" rating to a "hold" rating in a research report on Saturday, October 31st. B. Riley Financial cut their price target on Amkor Technology from $41.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday. Zacks Research lowered shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Finally, The Goldman Sachs Group set a $56.00 price objective on shares of Amkor Technology in a research note on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $62.12.
Check Out Our Latest Stock Report on Amkor Technology
Hedge Funds Weigh In On Amkor Technology
Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC increased its position in Amkor Technology by 65.6% in the third quarter. Private Advisor Group LLC now owns 10,254 shares of the semiconductor company's stock worth $537,000 after buying an additional 4,062 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Amkor Technology during the 3rd quarter valued at about $5,825,000. Banco Santander S.A. grew its stake in shares of Amkor Technology by 20.5% during the 3rd quarter. Banco Santander S.A. now owns 162,353 shares of the semiconductor company's stock valued at $8,504,000 after acquiring an additional 27,575 shares during the period. Intech Investment Management LLC grew its stake in shares of Amkor Technology by 26.8% during the 3rd quarter. Intech Investment Management LLC now owns 112,673 shares of the semiconductor company's stock valued at $5,902,000 after acquiring an additional 23,826 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in Amkor Technology by 9.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 7,365 shares of the semiconductor company's stock worth $386,000 after acquiring an additional 665 shares in the last quarter. 42.76% of the stock is owned by institutional investors.
Amkor Technology Company Profile
(
Get Free Report)
Amkor Technology is a provider of outsourced semiconductor packaging and test services. It works with semiconductor companies to assemble and test integrated circuits before they are incorporated into electronic products. Its services include advanced packaging, wafer bumping, flip-chip packaging, wafer-level packaging, system-in-package solutions, and semiconductor testing. These technologies support applications in markets such as communications, automotive, computing, and consumer electronics.
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].
