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In a recent transaction, Kevin Engel, Executive Vice President of Amkor Technology , Inc. (NASDAQ:AMKR), sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Engel sold 5,489 shares of common stock on February 25, 2025, at a weighted average price of $21.69 per share, totaling approximately $119,056. The sale comes as AMKR trades near its 52-week low of $21.46, with the stock down about 33% over the past six months. InvestingPro analysis suggests the stock is currently undervalued.
Prior to this sale, Engel executed a series of transactions on February 24, 2025. These included the acquisition of 910 shares of common stock through the vesting of restricted stock units (RSUs) at no cost. Additionally, Engel had 380 shares withheld by the company to cover tax obligations related to the vesting of these RSUs, valued at $21.95 per share, amounting to $8,341.
Following these transactions, Engel’s direct ownership of Amkor Technology shares stands at 1,388 shares.
In other recent news, Amkor Technology reported fourth-quarter earnings that exceeded analyst expectations, with an adjusted earnings per share of $0.43, beating the forecast of $0.38. However, the revenue for the quarter was $1.63 billion, slightly below the anticipated $1.66 billion and representing a 7% decrease from the previous year. The company’s guidance for the first quarter of 2025 fell short of expectations, with projected earnings per share between $0.01 and $0.17 and revenue between $1.225 billion and $1.325 billion, both below analyst projections.
KeyBanc Capital Markets revised Amkor’s stock price target to $27 from $34, maintaining an Overweight rating despite a cautious outlook for 2025. DA Davidson reiterated a Buy rating with a $36 price target, expressing optimism about Amkor’s potential recovery and growth. UBS also adjusted its price target to $27.65 from $32.50, maintaining a Neutral rating and highlighting concerns about sales guidance and capital expenditure growth.
Amkor’s challenges include a temporary loss of a key socket in the communications sector and a transition to advanced packaging technology in the AI graphics market. Despite these hurdles, the company has highlighted positive developments, such as the ramp-up of its Vietnam facility and record revenue in its computing segment.
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