Amkor (NASDAQ:AMKR) Technology, Inc. (NASDAQ:AMKR) has reported significant trading activity by its President and CEO, Guillaume Marie Jean Rutten. According to the latest filing, Rutten sold 25,000 shares of common stock at an average price of $31.23, totaling $780,750. The transactions took place on March 15, 2024, and were executed within a price range of $30.92 to $31.62.
In addition to the sale, the same filing revealed that Rutten also acquired 15,000 shares of Amkor Technology 's common stock, valued at $14.17 per share, which amounts to a total of $212,550. This acquisition was made through the exercise of options under the company's employee stock option plan. After these transactions, Rutten's direct ownership in the company stands at 124,476 shares of common stock.
The sale was conducted under a Rule 10b5-1 trading plan, which Rutten had adopted on November 8, 2023. Such plans allow company insiders to set up a predetermined plan for trading stock and are typically used to avoid concerns about insider trading. It is notable that the options exercised by Rutten were part of an award that was granted on July 30, 2020, and fully vested by the third anniversary of the grant date.
Investors and followers of Amkor Technology may consider this trading activity as a routine financial move by the company's executive. The company, which specializes in semiconductors and related devices, continues to operate out of its headquarters in Tempe, Arizona.
InvestingPro Insights
As Amkor Technology's (NASDAQ:AMKR) President and CEO Guillaume Marie Jean Rutten makes headlines with his recent stock transactions, investors may be looking to understand the broader financial context of the company. Here are some insights from InvestingPro that may provide a clearer picture of Amkor's current market standing.
Amkor Technology has shown a commitment to returning value to shareholders, as evidenced by its track record of raising its dividend for four consecutive years, an aspect that may interest income-focused investors. Additionally, the company's stock price has experienced a significant uptick over the last six months, with a 37.49% price total return, showcasing a strong short-term performance.
On the financial metrics front, Amkor's market capitalization stands at $7.63 billion USD, reflecting its substantial presence in the Semiconductors & Semiconductor Equipment industry. The company operates with a Price/Earnings (P/E) ratio of 21.29 and a Price/Book (P/B) ratio of 1.93 as of the last twelve months ending Q4 2023, indicating how the market values its earnings and assets. Despite a revenue decline of 8.3% over the same period, Amkor remains profitable with a gross profit margin of 14.5%.
Investors seeking more comprehensive analysis and additional InvestingPro Tips, such as the company's debt levels, gross profit margins, and analysts' predictions for profitability, can find them on InvestingPro. There are 12 additional tips available that can offer deeper insights into Amkor's financial health and future prospects.
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