Amkor Technology (NASDAQ:AMKR) Trading Down 7.7% Following Insider Selling

Amkor Technology, Inc. (NASDAQ:AMKR)’s stock price dropped 7.7% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $12.09 and last traded at $12.31, approximately 1,524,600 shares were traded during mid-day trading. An increase of 55% from the average daily volume of 983,058 shares. The stock had previously closed at $13.33.

Specifically, Director Roger Anthony Carolin sold 40,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $12.90, for a total transaction of $516,000.00. Following the completion of the transaction, the director now owns 62,383 shares of the company’s stock, valued at $804,740.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Charles Stone sold 37,352 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $13.44, for a total transaction of $502,010.88. Following the transaction, the executive vice president now directly owns 62,368 shares of the company’s stock, valued at approximately $838,225.92. The disclosure for this sale can be found here. Insiders have sold 129,752 shares of company stock valued at $1,669,383 in the last ninety days. 59.60% of the stock is owned by company insiders.

Several research analysts recently issued reports on the stock. TheStreet raised shares of Amkor Technology from a “c+” rating to a “b-” rating in a research report on Tuesday, October 29th. BidaskClub raised shares of Amkor Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 5th. Zacks Investment Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, October 22nd. ValuEngine lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Credit Suisse Group raised shares of Amkor Technology from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $8.20 to $15.00 in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Amkor Technology currently has an average rating of “Buy” and an average price target of $12.67.

The company has a quick ratio of 1.46, a current ratio of 1.68 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 23.23 and a beta of 2.01. The company’s 50-day moving average is $11.31 and its 200-day moving average is $8.83.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.15. Amkor Technology had a net margin of 1.26% and a return on equity of 3.51%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, research analysts forecast that Amkor Technology, Inc. will post 0.4 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Amkor Technology by 6.0% in the second quarter. BlackRock Inc. now owns 11,772,385 shares of the semiconductor company’s stock worth $87,822,000 after purchasing an additional 661,741 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Amkor Technology by 4.7% during the second quarter. Vanguard Group Inc. now owns 9,568,117 shares of the semiconductor company’s stock worth $71,379,000 after buying an additional 425,860 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Amkor Technology by 10.0% during the second quarter. Northern Trust Corp now owns 3,681,204 shares of the semiconductor company’s stock worth $27,462,000 after buying an additional 335,396 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Amkor Technology by 17.9% during the second quarter. JPMorgan Chase & Co. now owns 2,600,573 shares of the semiconductor company’s stock worth $19,192,000 after buying an additional 394,672 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Amkor Technology by 87.0% during the second quarter. Renaissance Technologies LLC now owns 2,380,300 shares of the semiconductor company’s stock valued at $17,757,000 after purchasing an additional 1,107,105 shares during the last quarter. 36.38% of the stock is owned by hedge funds and other institutional investors.

About Amkor Technology (NASDAQ:AMKR)

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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