Sunday, June 26, 2022

Selling Buzz: Amkor Technology Inc. [AMKR] CFO Faust Megan sells 6,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Amkor Technology Inc. shares valued at $119,400 were sold by Faust Megan on Jun 09. At $19.90 per share, Faust Megan sold 6,000 shares. The insider’s holdings dropped to 8,512 shares worth approximately $0.14 million following the completion of this transaction.


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Also, Rutten Guillaume Marie Jean sold 25,000 shares, netting a total of over 550,000 in proceeds. Following the sale of shares at $22.00 each, the insider now holds 317,992 shares.

Before that, Faust Megan had sold 5,000 shares from its account. In a trade valued at $122,050, the CFO traded Amkor Technology Inc. shares for $24.41 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $0.24 million.

As published in their initiating research note from Sidoti on December 22, 2021, Amkor Technology Inc. [AMKR] has been a Buy and the price target has been revised to $28. This represents a 40.61% premium over Wednesday’s closing price. Analysts at Credit Suisse downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid October. As of September 14, 2020, Credit Suisse has increased its “Neutral” rating to a “an Outperform” for AMKR. Earlier on April 28, 2020, Credit Suisse downgraded its rating. Their new recommendation was “a Neutral” for AMKR stock which previously was a “an Outperform”.

Analyzing AMKR’s Price Performance

On Wednesday, Amkor Technology Inc. [NASDAQ: AMKR] plunged -2.69% to $16.63. The stock’s lowest price that day was $16.53, but it reached a high of $17.02 in the same session. During the last five days, there has been a drop of approximately -8.07%. Over the course of the year, Amkor Technology Inc. shares have dropped approximately -32.92%. Shares of the company reached a 52-week high of $26.64 on 01/04/22 and a 52-week low of $16.26 on 06/17/22. A 50-day SMA is recorded $19.09, while a 200-day SMA reached $22.29. Nevertheless, trading volume fell to 1.3 million shares from 1.17 million shares the previous day.

Support And Resistance Levels for Amkor Technology Inc. (AMKR)

According to the 24-hour chart, there is a support level at 16.43, which, if violated, would cause prices to drop to 16.24. In the upper region, resistance lies at 16.92. The next price resistance is at 17.22. RSI (Relative Strength Index) is 35.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.91, which suggests the price will decrease in the coming days. Percent R is at 92.19%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Amkor Technology Inc. subject to short interest?

Stocks of Amkor Technology Inc. saw a sharp steep in short interest on Apr 28, 2022 dropping by 10000.0 shares to 5.03 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 5.04 million shares. A decline of -0.2% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.25 of the overall float, the days-to-cover ratio (short ratio) decline to 5.25.

Which companies own the most shares of Amkor Technology Inc. (AMKR)?

According to Dimensional Fund Advisors LP filings, the company currently owns 15,334,586 shares, which is about 6.27% of the total AMKR shares outstanding. The investor’s shares have plunged by -81,786 from its previous 13-F filing of 15416372.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $240,878,716. BlackRock Fund Advisors acquire a 0.34% interest valued at $214.56 million while LSV Asset Management purchased a 684,917 stake. A total of -15,187 shares of Amkor Technology Inc. were bought by Fuller & Thaler Asset Management, during the quarter, and 106,685 were bought by SSgA Funds Management, Inc. In its current portfolio, SW Investment Management LLC holds 3,000,000 shares valued at $61.32 million.

In terms of Amkor Technology Inc. share price expectations, FactSet research, analysts set an average price target of $21.50 in the next 12 months, up nearly 25.8% from the previous closing price of $17.09. Analysts anticipate Amkor Technology Inc. stock to reach $21.50 by 2022, with the lowest price target being $21.50. In spite of this, 2 analysts ranked Amkor Technology Inc. stock as a Hold at the end of 2022. On March 17, 2020, Sidoti assigned a price target of “a Buy” to the stock and initiated coverage with a $10.

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