Amkor Technology, Inc. (NASDAQ:AMKR) Short Interest Up 10.9% in October

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,240,000 shares, an increase of 10.9% from the October 15th total of 2,020,000 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is presently 1.9 days.

Insider Buying and Selling

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $24.79, for a total transaction of $66,933.00. Following the completion of the sale, the chief financial officer now owns 35,394 shares of the company’s stock, valued at $877,417.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Megan Faust sold 2,700 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $24.79, for a total transaction of $66,933.00. Following the completion of the transaction, the chief financial officer now owns 35,394 shares of the company’s stock, valued at approximately $877,417.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $23.84, for a total value of $119,200.00. Following the sale, the executive vice president now owns 20,815 shares in the company, valued at approximately $496,229.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,013,100 shares of company stock worth $232,508,173. 53.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in shares of Amkor Technology by 350.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,311 shares of the semiconductor company’s stock worth $34,000 after buying an additional 1,020 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Amkor Technology in the first quarter valued at approximately $38,000. Chilton Capital Management LLC purchased a new position in shares of Amkor Technology during the 1st quarter worth approximately $52,000. Cerity Partners LLC acquired a new position in shares of Amkor Technology during the 1st quarter worth approximately $40,427,000. Finally, Advisors Asset Management Inc. lifted its stake in Amkor Technology by 57.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,936 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 1,069 shares in the last quarter. 38.69% of the stock is currently owned by institutional investors and hedge funds.

Amkor Technology Stock Performance

Shares of AMKR stock traded up $0.30 during mid-day trading on Wednesday, hitting $25.47. The stock had a trading volume of 64,604 shares, compared to its average volume of 1,031,374. The firm has a market cap of $6.26 billion, a PE ratio of 15.25 and a beta of 1.85. The company’s 50-day simple moving average is $22.69 and its 200-day simple moving average is $25.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 1.65. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $31.38.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Amkor Technology had a return on equity of 10.79% and a net margin of 6.11%. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. Sell-side analysts anticipate that Amkor Technology will post 1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. DA Davidson upped their target price on Amkor Technology from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Morgan Stanley assumed coverage on shares of Amkor Technology in a research note on Thursday, November 9th. They set an “equal weight” rating and a $27.00 target price for the company. Finally, StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services.