Short Interest in Amkor Technology, Inc. (NASDAQ:AMKR) Rises By 13.5%

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 3,530,000 shares, a growth of 13.5% from the March 31st total of 3,110,000 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily volume of 935,800 shares, the days-to-cover ratio is currently 3.8 days.

Amkor Technology Price Performance

Amkor Technology stock opened at $31.47 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $37.00. The firm has a market cap of $7.74 billion, a PE ratio of 21.55 and a beta of 1.96. The company’s 50 day moving average is $31.60 and its two-hundred day moving average is $29.73.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, research analysts expect that Amkor Technology will post 1.63 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.079 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s payout ratio is presently 21.23%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.23, for a total transaction of $780,750.00. Following the transaction, the chief executive officer now owns 124,476 shares in the company, valued at $3,887,385.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Amkor Technology news, CFO Megan Faust sold 2,800 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.09, for a total value of $87,052.00. Following the transaction, the chief financial officer now directly owns 53,023 shares in the company, valued at approximately $1,648,485.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’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 transaction of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares of the company’s stock, valued at approximately $3,887,385.48. The disclosure for this sale can be found here. Insiders have sold 80,500 shares of company stock valued at $2,494,720 in the last ninety days. 31.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Amkor Technology

Large investors have recently made changes to their positions in the company. Readystate Asset Management LP purchased a new stake in shares of Amkor Technology during the 4th quarter worth $4,694,000. Trexquant Investment LP purchased a new stake in Amkor Technology during the 3rd quarter worth about $1,142,000. Invesco Ltd. lifted its holdings in Amkor Technology by 12.3% during the 3rd quarter. Invesco Ltd. now owns 1,318,158 shares of the semiconductor company’s stock worth $29,790,000 after buying an additional 144,280 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Amkor Technology during the 3rd quarter worth about $4,280,000. Finally, Vanguard Group Inc. increased its holdings in shares of Amkor Technology by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,797,154 shares of the semiconductor company’s stock valued at $311,816,000 after acquiring an additional 1,300,745 shares during the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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.