Amkor Technology (NASDAQ:AMKR) Shares Down 3.4% After Insider Selling

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) traded down 3.4% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $72.00 and last traded at $72.09. 4,814,115 shares changed hands during trading, an increase of 6% from the average session volume of 4,555,097 shares. The stock had previously closed at $74.61.

Specifically, Director Gil C. Tily sold 15,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $77.30, for a total value of $1,159,500.00. Following the sale, the director owned 108,806 shares of the company’s stock, valued at $8,410,703.80. This trade represents a 12.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the stock in a transaction dated 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 $37,330,008.24. This represents a 9.05% decrease in their position. The disclosure for this sale is available in the SEC filing.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group set a $43.00 price target on Amkor Technology in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. Morgan Stanley increased their price target 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. Needham & Company LLC increased their price target on Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen lowered Amkor Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Amkor Technology has a consensus rating of “Hold” and a consensus target price of $62.75.

Amkor Technology Stock Down 3.4%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The firm has a market cap of $17.87 billion, a price-to-earnings ratio of 41.19 and a beta of 2.29. The firm has a 50-day moving average price of $56.71 and a two-hundred day moving average price of $47.75.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, topping 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 last year, the company earned $0.09 EPS. The business’s quarterly revenue was up 27.5% on a year-over-year basis. On average, sell-side analysts forecast that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently announced 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. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Amkor Technology’s dividend payout ratio (DPR) is 18.86%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMKR. Royal Bank of Canada increased its position in Amkor Technology by 100.6% during the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock worth $349,000 after buying an additional 3,454,012 shares during the period. Advisors Asset Management Inc. increased its position in Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after buying an additional 854 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amkor Technology by 913.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company’s stock worth $136,000 after buying an additional 6,768 shares during the period. Goldman Sachs Group Inc. increased its position in Amkor Technology by 73.4% during the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company’s stock worth $9,476,000 after buying an additional 222,107 shares during the period. Finally, Caxton Associates LLP acquired a new position in Amkor Technology during the first quarter worth approximately $271,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Company Profile

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.