Amkor Technology (NASDAQ:AMKR) CEO Kevin Engel Sells 1,000 Shares of Stock

Amkor Technology, Inc. (NASDAQ:AMKR) CEO Kevin Engel sold 1,000 shares of Amkor Technology stock in a transaction on Monday, November 9th. The stock was sold at an average price of $35.00, for a total transaction of $35,000.00. Following the transaction, the chief executive officer owned 8,666 shares in the company, valued at $303,310. This represents a 10.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amkor Technology Stock Performance

Shares of NASDAQ AMKR traded down $0.53 during trading on Tuesday, hitting $34.47. The company had a trading volume of 3,060,086 shares, compared to its average volume of 4,932,968. Amkor Technology, Inc. has a 12 month low of $29.76 and a 12 month high of $96.68. The firm has a market capitalization of $8.54 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 0.45 and a beta of 2.39. The stock has a 50 day simple moving average of $46.24 and a 200 day simple moving average of $56.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.89 and a current ratio of 2.17.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly 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 firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts anticipate that Amkor Technology, Inc. will post 2.50 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 2nd were issued a $0.0835 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, September 2nd. Amkor Technology’s payout ratio is 13.31%.

Institutional Investors Weigh In On Amkor Technology

Several large investors have recently modified their holdings of the business. Bessemer Group Inc. increased its position in Amkor Technology by 12.5% during the first quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 135 shares during the last quarter. Arista Wealth Management LLC increased its stake in Amkor Technology by 1.2% during the second quarter. Arista Wealth Management LLC now owns 13,642 shares of the semiconductor company’s stock worth $1,176,000 after purchasing an additional 157 shares during the period. CoreCap Advisors LLC grew its stake in shares of Amkor Technology by 56.4% in the second quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 158 shares in the last quarter. Strs Ohio increased its holdings in Amkor Technology by 8.6% during the 1st quarter. Strs Ohio now owns 2,971 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 235 shares during the period. Finally, Arizona State Retirement System raised its holdings in Amkor Technology by 0.7% in the second quarter. Arizona State Retirement System now owns 34,189 shares of the semiconductor company’s stock valued at $2,948,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AMKR shares. Weiss Ratings downgraded shares of Amkor Technology from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. B. Riley Financial reduced their target price on shares of Amkor Technology from $41.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday. Zacks Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Morgan Stanley dropped their price target on shares of Amkor Technology from $70.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 27th. Finally, UBS Group upgraded shares of Amkor Technology from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $90.00 in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Amkor Technology presently has a consensus rating of “Hold” and an average price target of $62.12.

About Amkor Technology

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.