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

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMKR shares. Fox Advisors assumed coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating on the stock. B. Riley raised their price objective on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.20.

Insider Transactions at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total value of $765,750.00. Following the transaction, the chief executive officer now directly owns 123,728 shares in the company, valued at approximately $3,789,788.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total transaction of $765,750.00. Following the sale, the chief executive officer now directly owns 123,728 shares in the company, valued at approximately $3,789,788.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Megan Faust sold 2,700 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $32.00, for a total transaction of $86,400.00. Following the sale, the chief financial officer now owns 35,394 shares in the company, valued at $1,132,608. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,200 shares of company stock worth $1,801,870. 53.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trexquant Investment LP acquired a new stake in shares of Amkor Technology in the 3rd quarter worth $1,142,000. Invesco Ltd. lifted its stake in shares of Amkor Technology by 12.3% in the 3rd quarter. Invesco Ltd. now owns 1,318,158 shares of the semiconductor company’s stock worth $29,790,000 after acquiring an additional 144,280 shares during the period. Comerica Bank acquired a new stake in shares of Amkor Technology in the 2nd quarter worth $3,357,000. Wellington Management Group LLP acquired a new stake in shares of Amkor Technology in the 3rd quarter worth $4,280,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Amkor Technology in the 3rd quarter worth $1,107,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Trading Down 2.6 %

NASDAQ AMKR opened at $30.98 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The firm’s fifty day moving average price is $31.82 and its 200 day moving average price is $28.63. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 21.22 and a beta of 1.96. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $37.00.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted $0.67 EPS. Amkor Technology’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, sell-side analysts expect that Amkor Technology will post 1.63 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

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

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.