Insider Selling: Amkor Technology, Inc. (NASDAQ:AMKR) Major Shareholder Sells $18,999,995.25 in Stock

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

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $21.11 on Friday. Amkor Technology, Inc. has a one year low of $20.56 and a one year high of $44.86. The company has a market cap of $5.21 billion, a PE ratio of 14.76 and a beta of 1.81. 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 business has a 50-day simple moving average of $24.56 and a 200-day simple moving average of $27.46.

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

Amkor Technology Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is presently 23.08%.

Institutional Investors Weigh In On Amkor Technology

Several large investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Amkor Technology during the fourth quarter worth approximately $8,344,000. Forum Financial Management LP raised 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 worth $222,000 after purchasing an additional 1,639 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Amkor Technology during the fourth quarter worth approximately $1,603,000. CSS LLC IL raised its stake in shares of Amkor Technology by 9.4% during the fourth quarter. CSS LLC IL now owns 15,340 shares of the semiconductor company’s stock worth $394,000 after purchasing an additional 1,320 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Amkor Technology by 9.3% during the fourth 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 purchasing an additional 26,146 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Wall Street Analysts Forecast Growth

AMKR has been the topic of several research analyst reports. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $34.00 to $30.00 in a report on Monday, January 6th. B. Riley cut their price target on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their price target on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, Morgan Stanley cut their price target on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Amkor Technology presently has an average rating of “Hold” and an average price target 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.