Insider Selling: Amkor Technology Director Unloads 1,526 Shares of Stock (AMKR)
Amkor Technology (NASDAQ:AMKR) Director Winston J. Churchill sold 1,526 shares of Amkor Technology stock on the open market in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $9.20, for a total transaction of $14,039.20. Following the completion of the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $103,040. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on AMKR shares. Analysts at Zacks upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Separately, analysts at Topeka Capital Markets reiterated a “buy” rating on shares of Amkor Technology in a research note on Tuesday, April 29th. They now have a $9.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Amkor Technology from $5.00 to $7.00 in a research note on Tuesday, April 29th. They now have a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Amkor Technology presently has a consensus rating of “Buy” and an average price target of $8.16.
Amkor Technology (NASDAQ:AMKR) traded up 1.28% on Monday, hitting $9.49. The stock had a trading volume of 1,648,675 shares. Amkor Technology has a 52 week low of $3.91 and a 52 week high of $9.41. The stock’s 50-day moving average is $7.74 and its 200-day moving average is $6.. The company has a market cap of $2.245 billion and a price-to-earnings ratio of 18.05. Amkor Technology also was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totalling 8,989,246 shares, a drop of 30.3% from the April 15th total of 12,902,045 shares. Based on an average trading volume of 1,827,704 shares, the days-to-cover ratio is presently 4.9 days. Currently, 10.4% of the shares of the stock are short sold.
Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.06. The company had revenue of $696.00 million for the quarter, compared to the consensus estimate of $678.13 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Amkor Technology will post $0.70 earnings per share for the current fiscal year.
Amkor Technology, Inc (NASDAQ:AMKR) is a provider of outsourced semiconductor packaging (assembly) and test services.
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