Short Interest in Amkor Technology, Inc. (NASDAQ:AMKR) Expands By 8.7%

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 3,370,000 shares, a growth of 8.7% from the February 29th total of 3,100,000 shares. Based on an average trading volume of 908,900 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.9% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. B. Riley increased their price target on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. The Goldman Sachs Group assumed coverage on Amkor Technology in a report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price target on the stock. Finally, Fox Advisors began coverage on Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Amkor Technology currently has a consensus rating of “Moderate Buy” and an average price target of $33.20.

Amkor Technology Price Performance

Shares of Amkor Technology stock opened at $30.98 on Wednesday. Amkor Technology has a one year low of $17.58 and a one year high of $37.00. The stock’s fifty day moving average is $31.82 and its 200 day moving average is $28.63. The stock has a market cap of $7.62 billion, a P/E ratio of 21.22 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the firm earned $0.67 EPS. Amkor Technology’s revenue for the quarter was down 8.1% compared to the same quarter last year. Sell-side analysts anticipate that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were paid a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. Amkor Technology’s payout ratio is presently 21.23%.

Insider Activity at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the transaction, the chief executive officer now directly owns 123,728 shares of the company’s stock, valued at approximately $3,789,788.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Megan Faust sold 2,700 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now directly owns 38,811 shares in the company, valued at $1,177,525.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,200 shares of company stock valued at $1,801,870. 53.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors have recently bought and sold shares of AMKR. Raymond James & Associates increased its stake in Amkor Technology by 4.0% in the 1st quarter. Raymond James & Associates now owns 79,509 shares of the semiconductor company’s stock worth $1,727,000 after buying an additional 3,030 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Amkor Technology in the 1st quarter worth $868,000. Bank of New York Mellon Corp increased its stake in Amkor Technology by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,334,042 shares of the semiconductor company’s stock worth $28,975,000 after buying an additional 10,751 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Amkor Technology in the 1st quarter worth $330,000. Finally, MetLife Investment Management LLC increased its stake in Amkor Technology by 40.3% in the 1st quarter. MetLife Investment Management LLC now owns 117,317 shares of the semiconductor company’s stock worth $2,548,000 after buying an additional 33,685 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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 the 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; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.