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

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 3,110,000 shares, a decline of 7.7% from the March 15th total of 3,370,000 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average daily volume of 919,600 shares, the short-interest ratio is currently 3.4 days.

Amkor Technology Stock Performance

AMKR traded down $1.07 during trading hours on Monday, reaching $31.30. The company’s stock had a trading volume of 749,770 shares, compared to its average volume of 922,983. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $37.00. The company’s 50-day moving average is $31.70 and its 200-day moving average is $29.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. The firm has a market cap of $7.70 billion, a PE ratio of 21.44 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 earnings per share for the quarter, beating 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 business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts forecast that Amkor Technology will post 1.63 EPS for the current year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were paid a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is presently 21.23%.

Insider Activity

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the business’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 sale, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.23, for a total value of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares in the company, valued at approximately $3,887,385.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. Insiders have sold 58,200 shares of company stock worth $1,801,870 in the last 90 days. Corporate insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Large investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC increased its position in Amkor Technology by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock worth $817,000 after buying an additional 327 shares during the period. Fifth Third Bancorp increased its position in Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after buying an additional 347 shares during the period. Retirement Systems of Alabama increased its position in Amkor Technology by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 129,277 shares of the semiconductor company’s stock worth $4,301,000 after buying an additional 413 shares during the period. Arizona State Retirement System increased its position in Amkor Technology by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 31,473 shares of the semiconductor company’s stock worth $711,000 after buying an additional 428 shares during the period. Finally, Assetmark Inc. increased its position in Amkor Technology by 3.5% during the 4th quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock worth $428,000 after buying an additional 438 shares during the period. Institutional investors own 42.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMKR. Fox Advisors assumed coverage on Amkor Technology in a research report on Thursday, March 14th. They set an “equal weight” rating on the stock. Needham & Company LLC assumed coverage on Amkor Technology in a research note on Tuesday, April 9th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on Amkor Technology in a research note on Thursday, February 29th. They set a “neutral” rating and a $32.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Amkor Technology presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

About Amkor Technology

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.