Amkor (NASDAQ:AMKR) Technology, Inc. (NASDAQ:AMKR) President and CEO, Guillaume Marie Jean Rutten, has recently engaged in trading of the company's stock, according to the latest SEC filings. On May 15, 2024, Rutten executed a sale of 25,000 shares at an average price of $33.37, totaling approximately $834,249. The transactions were conducted in a series of trades ranging from $33.045 to $33.73 per share.
In a corresponding move, Rutten also purchased 15,000 shares of Amkor Technology common stock at a price of $14.17 per share, amounting to a total investment of $212,550. These transactions have adjusted Rutten's holdings in the company, which now stand at 104,476 shares following the sale and 129,476 shares after the purchase.
The sale of shares by Rutten was carried out under a pre-arranged Rule 10b5-1 trading plan, which was adopted on November 8, 2023. This plan allows company insiders to establish predetermined trading arrangements for selling stocks at a time when they are not in possession of material non-public information.
The SEC filing also disclosed a derivative transaction involving employee stock options. Rutten exercised options to buy 15,000 shares at no cost, which were granted on July 30, 2020, and vested over a three-year period. Following this transaction, Rutten holds 53,125 derivative securities in the form of employee stock options.
Investors and market watchers often monitor insider trading patterns for insights into company health and executive confidence in the firm's future prospects. The trading activities of Amkor Technology's CEO will likely continue to be of interest to those following the semiconductor industry and the company's performance.
InvestingPro Insights
Amkor Technology, Inc. (NASDAQ:AMKR) has shown a notable presence in the financial markets, with its CEO Guillaume Marie Jean Rutten's recent trading activities drawing attention. To provide further context on Amkor's financial status and the potential implications of Rutten's transactions, let's delve into some real-time data and insights from InvestingPro.
InvestingPro Data indicates that Amkor Technology currently holds a Market Cap of $8.04 billion, reflecting the company's substantial size within the Semiconductors & Semiconductor Equipment industry. Additionally, the P/E Ratio as of Q1 2024 stands at 21.73, which may suggest that investors are expecting future earnings growth, despite the company's weak gross profit margins reported at 14.86% for the same period.
From an investment standpoint, it is noteworthy that Amkor Technology has been profitable over the last twelve months, with a Basic and Diluted EPS (Continuing Operations) of $1.52. This profitability, combined with a dividend yield of 0.96% and a consistent dividend growth of 5.0% as of Q1 2024, aligns with one of the InvestingPro Tips highlighting that the company has raised its dividend for 4 consecutive years. Furthermore, Amkor's liquid assets surpassing short-term obligations and a moderate level of debt underscore its financial stability.
For those considering investing in Amkor Technology, it may be beneficial to explore the comprehensive list of InvestingPro Tips available on the platform, which includes insights such as analysts' upward revisions of earnings for the upcoming period and the stock's high return over the last decade. For a deeper dive into Amkor's financial health and future prospects, investors can access additional tips by visiting https://www.investing.com/pro/AMKR and use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
With 12 additional InvestingPro Tips listed, investors have a wealth of information at their disposal to make informed decisions about Amkor Technology's stock, especially in light of the CEO's recent trading activities.
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