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

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 5,460,000 shares, an increase of 20.0% from the February 13th total of 4,550,000 shares. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is presently 3.3 days. Currently, 5.5% of the company’s stock are sold short.

Insider Activity

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the sale, the executive vice president now owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. The trade was a 79.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. This trade represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMKR. SBI Securities Co. Ltd. acquired a new stake in shares of Amkor Technology in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its stake in shares of Amkor Technology by 353.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 1,160 shares during the period. Bessemer Group Inc. raised its position in Amkor Technology by 421.0% in the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 1,242 shares during the period. Hurley Capital LLC acquired a new stake in shares of Amkor Technology during the 4th quarter worth about $43,000. Finally, Larson Financial Group LLC raised its stake in shares of Amkor Technology by 46.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 580 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Stock Up 0.1 %

Shares of NASDAQ AMKR opened at $19.57 on Thursday. Amkor Technology has a 52-week low of $18.87 and a 52-week high of $44.86. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The company’s 50-day simple moving average is $22.90 and its 200-day simple moving average is $26.25. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 13.69 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. Equities analysts predict that Amkor Technology will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be paid a $0.0827 dividend. This represents a $0.33 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology’s dividend payout ratio is currently 23.08%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMKR shares. Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of Amkor Technology in a research report on Tuesday, February 11th. Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. B. Riley dropped their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Morgan Stanley decreased their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amkor Technology has an average rating of “Moderate Buy” and an average price target of $31.50.

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.