On August 12, Amkor Technology rose 5.3% in pre-market trading, trading at $57.23/share, with turnover of $2.1417 million. The move was driven by reports that the company is exploring a potential sale of its China business stake.

According to people familiar with the matter, the global outsourced semiconductor packaging and test giant is considering strategic options for its China operations, including selling a portion of the business. Amkor is said to have hired an adviser to prepare the possible stake sale and gauge interest among potential buyers, which could include Asian investment firms and industry players. The company may retain a minority stake, with the China business valued at approximately $1 billion to $1.5 billion overall. Amkor representatives declined to comment on the matter.

The move comes as Amkor joins other multinational corporations reassessing their China business footprints. The company's fundamentals remain robust, with Q2 net sales reaching a record $1.9 billion, up 26% year-over-year, and EPS of $0.70 significantly beating the consensus estimate of $0.48. The stock has gained 34% year-to-date, with a market capitalization of $13.1 billion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)