Amkor (NASDAQ:AMKR) Technology, Inc. (NASDAQ:AMKR) has reported that its Chief Financial Officer, Megan Faust, has recently engaged in transactions involving the company's common stock. According to the latest filings, Faust sold shares with a total value exceeding $87,000.
The transactions, which took place on March 15, 2024, included the sale of 2,800 shares at a weighted average price of $31.09, falling within a range of $30.92 to $31.36 per share. This sale resulted in a total transaction value of $87,052 for the sold shares. The filing also noted that the sale was carried out in accordance with a Rule 10b5-1 trading plan that Faust had adopted on February 23, 2023.
In addition to the sale, the CFO also acquired 2,800 shares of Amkor Technology common stock at a price of $9.48 per share, which amounted to a total transaction value of $26,544. It's important to note that these acquired shares were non-derivative securities, reflecting a direct investment in the company.
Following these transactions, Faust's ownership in Amkor Technology has been updated to reflect the new total of shares held. The sale and acquisition of shares by a company's CFO is often closely monitored by investors, as it can provide insights into the executive's view of the company's current valuation and future prospects.
Amkor Technology, headquartered in Tempe, Arizona, is a leading provider in the semiconductor industry, specializing in semiconductor packaging and test services. As a publicly-traded company, it regularly discloses transactions by its executives to comply with SEC regulations and ensure transparency for its investors.
Investors and stakeholders in Amkor Technology can access full details of the transactions upon request, which the company is prepared to provide in compliance with SEC requirements.
InvestingPro Insights
Amkor Technology's recent financial performance and market metrics provide a broader context to the stock transactions executed by CFO Megan Faust. According to real-time data from InvestingPro, Amkor Technology (NASDAQ:AMKR) holds a market capitalization of approximately $7.63 billion, with a Price-to-Earnings (P/E) ratio at 21.29, which aligns closely with the adjusted P/E for the last twelve months as of Q4 2023 at 21.21. This valuation metric suggests that investors are willing to pay about $21 for every dollar of earnings, which is a key indicator of market sentiment towards the company.
Despite a decrease in revenue growth by 8.3% over the last twelve months as of Q4 2023, the company maintains a Gross Profit Margin of 14.5%, which, while indicative of some challenges in profitability, is balanced by the company's ability to manage its debt, as reflected in an InvestingPro Tip that notes Amkor operates with a moderate level of debt. Moreover, the company's stock has experienced a significant price uptick of 37.49% over the last six months, suggesting a strong market recovery.
InvestingPro Tips further highlight that Amkor Technology has raised its dividend for 4 consecutive years, with a current dividend yield of 1.01%. This could be an attractive point for income-focused investors, demonstrating the company's commitment to returning value to shareholders. Additionally, the company has been profitable over the last twelve months and analysts predict it will remain profitable this year, which may reassure investors of Amkor's financial stability.
For investors keen on exploring more about Amkor's financial health and stock performance, InvestingPro offers additional insights. With a total of 13 InvestingPro Tips available, ranging from earnings revisions by analysts to the company's position within its industry, subscribers can gain a more comprehensive understanding of the company's outlook. To access these insights, visit https://www.investing.com/pro/AMKR and use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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