Amkor Technology, Inc. (NASDAQ:AMKR) Sees Large Decline in Short Interest

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,270,000 shares, a decrease of 6.2% from the December 15th total of 4,550,000 shares. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is presently 3.3 days.

Amkor Technology Trading Up 1.8 %

Shares of AMKR opened at $25.91 on Monday. The business’s 50-day moving average price is $26.12 and its 200 day moving average price is $30.15. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.39 billion, a P/E ratio of 17.51 and a beta of 1.83. Amkor Technology has a 1-year low of $24.10 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $0.54 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Analysts expect that Amkor Technology will post 1.38 earnings per share for the current year.

Amkor Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.0827 per share. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.28%. Amkor Technology’s payout ratio is currently 22.30%.

Analyst Upgrades and Downgrades

Several research firms have commented on AMKR. JPMorgan Chase & Co. lowered their target price on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Melius cut Amkor Technology from a “buy” rating to a “hold” rating and dropped their target price for the stock from $34.00 to $30.00 in a report on Monday, January 6th. The Goldman Sachs Group decreased their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. DA Davidson cut their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Morgan Stanley lowered their target price on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Amkor Technology presently has a consensus rating of “Hold” and a consensus target price of $35.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its holdings in shares of Amkor Technology by 13.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 431,233 shares of the semiconductor company’s stock valued at $17,258,000 after purchasing an additional 51,711 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Amkor Technology by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 152,393 shares of the semiconductor company’s stock valued at $6,099,000 after buying an additional 14,012 shares during the period. Renaissance Technologies LLC lifted its position in Amkor Technology by 2,001.4% in the 2nd quarter. Renaissance Technologies LLC now owns 151,300 shares of the semiconductor company’s stock worth $6,055,000 after buying an additional 144,100 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Amkor Technology by 22.1% during the 2nd quarter. Amalgamated Bank now owns 66,467 shares of the semiconductor company’s stock valued at $2,660,000 after buying an additional 12,018 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Amkor Technology by 12.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,474 shares of the semiconductor company’s stock valued at $737,000 after buying an additional 2,058 shares during the period. 42.76% of the stock is owned by institutional investors and hedge funds.

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.