Amkor Technology’s Kim David D acquires $18.9 million in stock

Kim David D, a member of a 10% owner group, recently increased his holdings in Amkor Technology , Inc. (NASDAQ:AMKR), a $5.36 billion market cap semiconductor packaging company, through a significant acquisition of common stock. According to a recent SEC filing, Kim acquired 869,565 shares of Amkor Technology at a price of $21.85 per share, totaling approximately $18.9 million. The purchase comes as the stock trades near its 52-week low, with analyst targets ranging from $24 to $36.

The shares were distributed to Sujoda Investments, LP, a limited partnership where Kim is a member of the managing entity, Sujoda Management, LLC. This transaction is part of an internal family arrangement within the Kim family group. Following this acquisition, Kim’s indirect ownership through Sujoda Investments, LP amounts to 3,347,890 shares. According to InvestingPro analysis, Amkor maintains strong financial health with more cash than debt on its balance sheet.

Kim also holds shares directly and indirectly through family trusts, bringing his total reported holdings to a substantial number. However, it is noted that Kim disclaims beneficial ownership of certain securities, except for his pecuniary interest.

This transaction underscores Kim’s ongoing involvement and investment in Amkor Technology, a leading player in the semiconductor industry.

In other recent news, Amkor Technology reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $0.43 compared to the estimated $0.38. However, revenue for the quarter was $1.63 billion, slightly below the anticipated $1.66 billion, marking a 7% year-over-year decline. The company’s guidance for the first quarter of 2025 indicated earnings per share between $0.01 and $0.17, falling short of the consensus of $0.31, with projected revenue between $1.225 billion and $1.325 billion, also below expectations. KeyBanc Capital Markets adjusted its price target for Amkor Technology to $27.00 from $34.00 while maintaining an Overweight rating, citing a cautious outlook for 2025 and challenges in the automotive sector.

DA Davidson maintained a Buy rating on Amkor Technology with a $36.00 price target, expressing optimism about the company’s potential recovery, particularly with the expected regain of a lost iPhone socket in the latter half of 2025. UBS also revised its price target for Amkor to $27.65 from $32.50, retaining a Neutral rating due to concerns over sales guidance and potential risks in the 2.5D packaging technology market. The company reported net sales of $6.32 billion for the full year 2024, a decrease from $6.50 billion in 2023, with net income slightly down to $354 million from $360 million the previous year. Despite the challenges, Amkor highlighted positive developments, such as the ramp-up of its Vietnam facility and securing CHIPS funding to enhance U.S. manufacturing capabilities.

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