Insider Selling: Amkor Technology Inc. (AMKR) Insider Sells $2,134,000.00 in Stock
Amkor Technology Inc. (NASDAQ:AMKR) insider Stephen Douglas Kelley sold 200,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $10.67, for a total transaction of $2,134,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Amkor Technology Inc. (NASDAQ:AMKR) opened at 11.16 on Friday. The firm’s 50-day moving average is $9.80 and its 200-day moving average is $7.69. The firm has a market cap of $2.65 billion, a PE ratio of 44.82 and a beta of 2.55. Amkor Technology Inc. has a 12 month low of $4.09 and a 12 month high of $11.47.
Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 31st. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. Amkor Technology had a net margin of 1.55% and a return on equity of 5.43%. The firm earned $1.09 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 48.0% compared to the same quarter last year. Equities analysts expect that Amkor Technology Inc. will post $0.54 earnings per share for the current year.
Several analysts recently commented on AMKR shares. Zacks Investment Research upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, October 11th. Credit Suisse Group AG reiterated a “neutral” rating on shares of Amkor Technology in a research note on Tuesday, August 16th. Deutsche Bank AG raised their price objective on shares of Amkor Technology from $6.00 to $7.50 and gave the company a “hold” rating in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. raised their price objective on shares of Amkor Technology from $5.00 to $6.20 and gave the company a “sell” rating in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.18.
Several institutional investors have recently added to or reduced their stakes in AMKR. Dimensional Fund Advisors LP raised its position in Amkor Technology by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,458,265 shares of the company’s stock valued at $54,384,000 after buying an additional 1,078,260 shares in the last quarter. Vanguard Group Inc. raised its position in Amkor Technology by 2.0% in the second quarter. Vanguard Group Inc. now owns 6,632,447 shares of the company’s stock valued at $38,136,000 after buying an additional 132,777 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Amkor Technology by 37.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,366,842 shares of the company’s stock valued at $32,726,000 after buying an additional 911,863 shares in the last quarter. Northern Trust Corp raised its position in Amkor Technology by 2.3% in the third quarter. Northern Trust Corp now owns 3,341,797 shares of the company’s stock valued at $32,483,000 after buying an additional 74,786 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Amkor Technology by 73.7% in the first quarter. Renaissance Technologies LLC now owns 2,714,500 shares of the company’s stock valued at $15,988,000 after buying an additional 1,151,600 shares in the last quarter. Institutional investors and hedge funds own 31.84% of the company’s stock.
About Amkor Technology
Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements, including the type of interconnect technology employed, size, thickness and electrical, and mechanical and thermal performance.
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