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

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,970,000 shares, a growth of 5.9% from the September 30th total of 3,750,000 shares. Currently, 4.1% of the shares of the company are short sold. Based on an average trading volume of 1,580,000 shares, the days-to-cover ratio is currently 2.5 days.

Amkor Technology Stock Down 4.5 %

Shares of NASDAQ:AMKR opened at $26.73 on Thursday. The stock has a 50-day simple moving average of $30.49 and a 200-day simple moving average of $33.22. The stock has a market capitalization of $6.57 billion, a P/E ratio of 17.59 and a beta of 1.84. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business posted $0.54 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Amkor Technology will post 1.55 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd were issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.18%. Amkor Technology’s payout ratio is currently 20.39%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMKR. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday. The Goldman Sachs Group dropped their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday. Needham & Company LLC reduced their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley lowered their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, KeyCorp cut their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.63.

Insider Activity

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the sale, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently bought and sold shares of AMKR. Vanguard Group Inc. lifted its position in shares of Amkor Technology by 1.5% during the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after purchasing an additional 219,638 shares in the last quarter. Earnest Partners LLC lifted its holdings in Amkor Technology by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock worth $96,979,000 after buying an additional 75,364 shares in the last quarter. American Century Companies Inc. boosted its position in Amkor Technology by 54.4% in the 2nd quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock valued at $66,966,000 after buying an additional 589,530 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Amkor Technology during the second quarter valued at about $58,379,000. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Amkor Technology during the third quarter worth about $42,610,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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.