Amkor Technology, Inc. (NASDAQ:AMKR) Short Interest Update

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 2,890,000 shares, a decrease of 38.2% from the June 30th total of 4,680,000 shares. Based on an average daily volume of 1,470,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.0% of the shares of the stock are sold short.

Insider Activity

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $33.37, for a total transaction of $834,250.00. Following the transaction, the chief executive officer now directly owns 104,476 shares of the company’s stock, valued at approximately $3,486,364.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the sale, the executive vice president now directly owns 25,280 shares in the company, valued at $791,264. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $33.37, for a total value of $834,250.00. Following the transaction, the chief executive officer now directly owns 104,476 shares in the company, valued at $3,486,364.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,000 shares of company stock worth $2,708,250. 31.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amkor Technology

Large investors have recently made changes to their positions in the business. Handelsbanken Fonder AB increased its position in Amkor Technology by 9.2% during the 4th quarter. Handelsbanken Fonder AB now owns 18,976 shares of the semiconductor company’s stock valued at $631,000 after buying an additional 1,600 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Amkor Technology by 4.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock valued at $46,927,000 after acquiring an additional 63,104 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Amkor Technology by 169.6% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 69,543 shares of the semiconductor company’s stock worth $2,313,000 after purchasing an additional 43,745 shares during the last quarter. Readystate Asset Management LP bought a new position in Amkor Technology in the 4th quarter worth about $4,694,000. Finally, M&G Plc purchased a new stake in Amkor Technology during the 1st quarter valued at about $11,435,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Amkor Technology Trading Down 0.1 %

NASDAQ AMKR opened at $38.15 on Friday. The firm has a market capitalization of $9.38 billion, a PE ratio of 25.10 and a beta of 1.86. The stock’s 50 day moving average is $37.48 and its 200 day moving average is $33.69. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $44.86. The company has a quick ratio of 2.08, a current ratio of 2.34 and a debt-to-equity ratio of 0.26.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Amkor Technology had a net margin of 5.84% and a return on equity of 9.53%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. Research analysts forecast that Amkor Technology will post 1.76 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were issued a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Tuesday, June 4th. Amkor Technology’s dividend payout ratio (DPR) is presently 20.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMKR shares. B. Riley raised their price target on Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. initiated coverage on shares of Amkor Technology in a research report on Monday, July 1st. They issued an “overweight” rating and a $48.00 price objective on the stock. DA Davidson increased their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley boosted their price target on Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group increased their price objective on Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Amkor Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.43.

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.