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

Amkor Technology, Inc. (NASDAQ:AMKR) CEO Kevin Engel sold 1,000 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $35.00, for a total value of $35,000.00. Following the sale, the chief executive officer owned 8,666 shares of the company’s stock, valued at approximately $303,310. This trade represents a 10.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amkor Technology Stock Up 10.5%

Shares of AMKR stock opened at $38.10 on Thursday. The stock’s 50 day simple moving average is $45.83 and its 200 day simple moving average is $56.46. 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, Inc. has a twelve month low of $29.76 and a twelve month high of $96.68. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.43 and a beta of 2.39.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, October 26th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.04 billion. Amkor Technology had a return on equity of 13.32% and a net margin of 8.30%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. As a group, research analysts predict that Amkor Technology, Inc. will post 2.50 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on AMKR shares. Needham & Company LLC decreased their price objective on shares of Amkor Technology from $90.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. Wall Street Zen downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. The Goldman Sachs Group set a $56.00 target price on shares of Amkor Technology in a report on Tuesday, October 27th. Weiss Ratings lowered shares of Amkor Technology from a “hold (c+)” rating to a “sell (d+)” rating in a research report on Wednesday, October 28th. Finally, B. Riley Financial decreased their price target on shares of Amkor Technology from $41.00 to $38.00 and set a “neutral” rating for the company in a report on Monday. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.12.

Top Amkor Technology Stories

Investors following AMKR have been watching these stories:

• Positive Sentiment: A broader rebound in semiconductor stocks provided a favorable backdrop for AMKR. A separate valuation article argues the shares may be below fair value based on earnings power. Amkor Stock May Be Below Fair Value On Earnings Power
• Negative Sentiment: Third-quarter EPS of $0.76 and revenue of $1.99 billion came in below analyst expectations of $0.78 and $2.04 billion, respectively. B. Riley also lowered its price target to $38 from $41 and maintained a neutral rating. B. Riley Lowers Expectations for Amkor
• Neutral Sentiment: CEO Kevin Engel sold 1,000 shares under a pre-arranged Rule 10b5-1 plan. The sale may draw attention, though the planned nature and relatively small size limit its significance. Amkor Insider Trades

Institutional Investors Weigh In On Amkor Technology

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Amkor Technology in the 2nd quarter valued at approximately $1,060,005,000. Jefferies Financial Group Inc. acquired a new stake in shares of Amkor Technology during the 2nd quarter worth approximately $13,491,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Amkor Technology during the 2nd quarter worth approximately $3,575,000. Vontobel Holding Ltd. bought a new stake in shares of Amkor Technology during the third quarter valued at approximately $3,339,000. Finally, Corient Private Wealth LP increased its position in shares of Amkor Technology by 142.7% during the second 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. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Company Profile

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.