Amkor Technology (NASDAQ:AMKR) CFO Megan Faust Sells 1,000 Shares of Company Stock

Amkor Technology, Inc. (NASDAQ:AMKR) CFO Megan Faust sold 1,000 shares of Amkor Technology stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $35.00, for a total transaction of $35,000.00. Following the transaction, the chief financial officer directly owned 132,105 shares in the company, valued at approximately $4,623,675. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Megan Faust also recently made the following trade(s):

• On Tuesday, October 13th, Megan Faust sold 1,000 shares of Amkor Technology stock. The shares were sold at an average price of $46.92, for a total transaction of $46,920.00.
• On Tuesday, September 8th, Megan Faust sold 1,000 shares of Amkor Technology stock. The shares were sold at an average price of $49.05, for a total transaction of $49,050.00.

Amkor Technology Price Performance

AMKR opened at $37.12 on Friday. The stock has a market cap of $9.20 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.48 and a beta of 2.39. Amkor Technology, Inc. has a 12 month low of $29.76 and a 12 month high of $96.68. The company has a quick ratio of 1.89, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $45.63 and a 200 day simple moving average of $56.39.

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). Amkor Technology had a return on equity of 13.32% and a net margin of 8.30%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s revenue was up .2% on a year-over-year basis. On average, research analysts expect that Amkor Technology, Inc. will post 2.50 EPS for the current year.

Hedge Funds Weigh In On Amkor Technology

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Amkor Technology in the second quarter valued at about $1,060,005,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Amkor Technology during the second quarter worth about $152,110,000. Bank of New York Mellon Corp bought a new position in shares of Amkor Technology during the second quarter worth about $90,656,000. Bank of Nova Scotia bought a new position in shares of Amkor Technology during the second quarter worth about $58,273,000. Finally, Principal Financial Group Inc. raised its position in Amkor Technology by 19.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,622,744 shares of the semiconductor company’s stock valued at $118,107,000 after buying an additional 423,629 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley decreased their price objective on Amkor Technology from $70.00 to $63.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 27th. Zacks Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings downgraded shares of Amkor Technology from a “hold (c+)” rating to a “sell (d+)” rating in a report on Wednesday, October 28th. Wall Street Zen lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, The Goldman Sachs Group set a $56.00 price target on shares of Amkor Technology in a research note on Tuesday, October 27th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.12.

Top Amkor Technology Stories

Here are a few of the latest stories about AMKR:

• Neutral Sentiment: Amkor reported third-quarter sales of $1.991 billion and diluted EPS of $0.76, both below analyst expectations; EPS nevertheless improved from $0.51 a year earlier. Computing’s share of revenue increased, supporting the AI-demand narrative, though the overall results were mixed.
• Negative Sentiment: Communications revenue fell 28% year over year and 8% sequentially, as smartphone-production disruptions and material constraints weighed on the business. Article: Amkor’s Communications Business Weakens
• Negative Sentiment: Commentary cautions that Amkor’s AI-related expansion could take years to generate returns, tempering the near-term benefit investors may assign to its capacity commitments. Article: The AI Expansion Could Take Years to Pay Off

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.