Insider Selling: Amkor Technology, Inc. (NASDAQ:AMKR) Major Shareholder Sells 869,565 Shares of Stock

Amkor Technology, Inc. (NASDAQ:AMKR) major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Amkor Technology Stock Up 0.6 %

Amkor Technology stock opened at $21.11 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 14.76 and a beta of 1.81. Amkor Technology, Inc. has a fifty-two week low of $20.56 and a fifty-two week high of $44.86. The stock’s fifty day moving average is $24.56 and its two-hundred day moving average is $27.46.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. Analysts predict that Amkor Technology, Inc. will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be paid a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology’s payout ratio is currently 23.08%.

Institutional Trading of Amkor Technology

A number of large investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Amkor Technology during the fourth quarter valued at $8,344,000. Forum Financial Management LP boosted its stake in shares of Amkor Technology by 23.4% during the fourth quarter. Forum Financial Management LP now owns 8,637 shares of the semiconductor company’s stock valued at $222,000 after acquiring an additional 1,639 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Amkor Technology in the 4th quarter worth about $1,603,000. CSS LLC IL boosted its stake in Amkor Technology by 9.4% in the 4th quarter. CSS LLC IL now owns 15,340 shares of the semiconductor company’s stock worth $394,000 after buying an additional 1,320 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Amkor Technology by 9.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 307,036 shares of the semiconductor company’s stock worth $7,888,000 after buying an additional 26,146 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMKR shares. B. Riley cut their price objective on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Melius cut Amkor Technology from a “buy” rating to a “hold” rating and cut their price objective for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Morgan Stanley cut their price objective on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research report on Tuesday, February 11th. Finally, Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amkor Technology presently has a consensus rating of “Hold” and a consensus target price of $31.50.

About Amkor Technology

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.