Amkor Technology, Inc. (NASDAQ:AMKR) Sees Significant Decrease in Short Interest

Amkor Technology, Inc. (NASDAQ:AMKRGet Free Report) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 2,600,000 shares, a drop of 6.8% from the December 31st total of 2,790,000 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.3% of the shares of the company are short sold.

Amkor Technology Price Performance

Amkor Technology stock opened at $31.95 on Friday. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 19.36 and a beta of 2.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 1.65. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $34.44. The firm has a 50-day moving average of $31.33 and a two-hundred day moving average of $27.16.

Amkor Technology (NASDAQ:AMKRGet Free Report) last announced its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. Amkor Technology had a net margin of 6.11% and a return on equity of 10.79%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The company’s revenue was down 12.6% compared to the same quarter last year. On average, research analysts forecast that Amkor Technology will post 1.39 earnings per share for the current year.

Amkor Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 5th were given a $0.079 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Monday, December 4th. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio is presently 18.79%.

Wall Street Analysts Forecast Growth

AMKR has been the topic of a number of research reports. Morgan Stanley initiated coverage on shares of Amkor Technology in a report on Thursday, November 9th. They issued an “equal weight” rating and a $27.00 target price on the stock. UBS Group initiated coverage on shares of Amkor Technology in a report on Thursday, November 16th. They issued a “buy” rating and a $31.00 target price on the stock. StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Finally, B. Riley lifted their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Amkor Technology has an average rating of “Moderate Buy” and a consensus price target of $33.50.

View Our Latest Analysis on Amkor Technology

Insider Buying and Selling

In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $26.19, for a total value of $70,713.00. Following the sale, the chief financial officer now owns 35,394 shares in the company, valued at $926,968.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Roger Anthony Carolin sold 20,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $28.31, for a total transaction of $566,200.00. Following the sale, the director now directly owns 48,392 shares in the company, valued at approximately $1,369,977.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $26.19, for a total transaction of $70,713.00. Following the sale, the chief financial officer now owns 35,394 shares in the company, valued at $926,968.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,400 shares of company stock worth $723,313. 53.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Amkor Technology

Hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new position in shares of Amkor Technology during the 2nd quarter worth approximately $187,000. Comerica Bank acquired a new position in Amkor Technology during the 2nd quarter valued at approximately $3,357,000. M&G Investment Management Ltd. acquired a new position in Amkor Technology during the 2nd quarter valued at approximately $8,479,000. Portolan Capital Management LLC increased its stake in Amkor Technology by 236.0% during the 2nd quarter. Portolan Capital Management LLC now owns 311,456 shares of the semiconductor company’s stock valued at $9,266,000 after purchasing an additional 218,759 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Amkor Technology during the 3rd quarter valued at approximately $855,000. Hedge funds and other institutional investors own 38.69% of the company’s stock.

Amkor Technology Company Profile

(Get Free Report)

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and 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.

Further Reading

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