Insider Selling: Amkor Technology, Inc. (NASDAQ:AMKR) CEO Sells 10,000 Shares of Stock

Amkor Technology, Inc. (NASDAQ:AMKR) CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Amkor Technology Price Performance

Shares of AMKR stock traded up $0.47 during midday trading on Thursday, reaching $30.95. 1,350,425 shares of the company were exchanged, compared to its average volume of 1,306,996. Amkor Technology, Inc. has a 12 month low of $17.58 and a 12 month high of $44.86. The company has a market cap of $7.61 billion, a P/E ratio of 20.49 and a beta of 1.84. The company’s 50 day moving average price is $31.03 and its two-hundred day moving average price is $33.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $0.26 EPS. Amkor Technology’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts expect that Amkor Technology, Inc. will post 1.55 earnings per share for the current year.

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.079 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.02%. Amkor Technology’s dividend payout ratio (DPR) is 20.39%.

Institutional Trading of Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Driehaus Capital Management LLC bought a new stake in shares of Amkor Technology in the 2nd quarter worth approximately $58,379,000. Millennium Management LLC raised its holdings in shares of Amkor Technology by 359.7% in the 2nd quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock worth $54,439,000 after purchasing an additional 1,064,404 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Amkor Technology by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock worth $490,965,000 after purchasing an additional 959,838 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Amkor Technology by 54.4% in the 2nd quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after purchasing an additional 589,530 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of Amkor Technology in the 1st quarter worth approximately $11,435,000. 42.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMKR shares. Morgan Stanley raised their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. KeyCorp started coverage on shares of Amkor Technology in a research report on Friday, September 20th. They issued an “overweight” rating and a $38.00 price target on the stock. B. Riley raised their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. initiated coverage on shares of Amkor Technology in a research report on Monday, July 1st. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, Needham & Company LLC lifted their price objective on shares of Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amkor Technology currently has a consensus rating of “Moderate Buy” and an average price target of $40.75.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.