Key Points
- CFO Megan Faust sold 1,000 Amkor shares at $35 each, worth $35,000, under a pre-arranged Rule 10b5-1 plan. She retained 132,105 shares after the transaction.
- Amkor’s latest quarter missed analyst expectations: EPS was $0.76 versus $0.78 forecast, and revenue was $1.99 billion versus $2.04 billion expected.
- Analyst sentiment is mixed, with a consensus Hold rating and an average price target of $62.12; recent commentary also cited weakness in communications revenue amid smartphone disruptions and material constraints.
Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) CFO Megan Faust sold 1,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the sale, the chief financial officer owned 132,105 shares in the company, valued at $4,623,675. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Megan Faust also recently made the following trade(s):
- On Tuesday, October 13th, Megan Faust sold 1,000 shares of Amkor Technology stock. The stock was sold at an average price of $46.92, for a total transaction of $46,920.00.
- On Tuesday, September 8th, Megan Faust sold 1,000 shares of Amkor Technology stock. The stock was sold at an average price of $49.05, for a total transaction of $49,050.00.
Amkor Technology Stock Performance
Shares of AMKR opened at $37.12 on Friday. Amkor Technology, Inc. has a 12 month low of $29.76 and a 12 month high of $96.68. The firm has a fifty day simple moving average of $45.63 and a 200 day simple moving average of $56.39. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.48 and a beta of 2.39. The company has a current ratio of 2.17, a quick ratio of 1.89 and a debt-to-equity ratio of 0.48.
Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The firm's quarterly revenue was up .2% on a year-over-year basis. Research analysts forecast that Amkor Technology, Inc. will post 2.50 EPS for the current fiscal year.
Amkor Technology News Roundup
These are some of the AMKR news items that stood out recently:
- Negative Sentiment: Communications revenue fell 28% year over year and 8% sequentially, as smartphone-production disruptions and material constraints weighed on the business. Article: Amkor’s Communications Business Weakens
- Negative Sentiment: Commentary cautions that Amkor’s AI-related expansion could take years to generate returns, tempering the near-term benefit investors may assign to its capacity commitments. Article: The AI Expansion Could Take Years to Pay Off
- Negative Sentiment: B. Riley lowered its price target to $38 and maintained a neutral rating. The CFO and CEO also reported small share sales, both made under pre-arranged trading plans; the transactions may still add to investor caution amid broader insider selling.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. UBS Group upgraded Amkor Technology from a "neutral" rating to a "buy" rating and raised their price objective for the company from $80.00 to $90.00 in a report on Friday, July 24th. Wall Street Zen lowered Amkor Technology from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. B. Riley Financial reduced their price target on Amkor Technology from $41.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday. Zacks Research downgraded Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. Finally, Bank of America initiated coverage on Amkor Technology in a research note on Thursday, August 27th. They issued a "buy" rating and a $70.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $62.12.
Check Out Our Latest Stock Report on Amkor Technology
Hedge Funds Weigh In On Amkor Technology
A number of institutional investors have recently added to or reduced their stakes in AMKR. BlackRock Inc. bought a new position in shares of Amkor Technology in the 2nd quarter valued at about $1,060,005,000. Jefferies Financial Group Inc. acquired a new position in shares of Amkor Technology during the 2nd quarter worth about $13,491,000. Public Employees Retirement System of Ohio acquired a new position in shares of Amkor Technology during the 2nd quarter worth about $3,575,000. Vontobel Holding Ltd. bought a new stake in shares of Amkor Technology in the 3rd quarter valued at about $3,339,000. Finally, Corient Private Wealth LP raised its holdings in shares of Amkor Technology by 142.7% in the 2nd quarter. Corient Private Wealth LP now owns 158,037 shares of the semiconductor company's stock valued at $13,628,000 after purchasing an additional 92,929 shares during the period. 42.76% of the stock is currently owned by institutional investors and hedge funds.
About Amkor Technology
(
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.
Read More
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].
