Short Interest in Amkor Technology, Inc. (NASDAQ:AMKR) Declines By 7.9%

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 4,690,000 shares, a drop of 7.9% from the November 15th total of 5,090,000 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is currently 3.3 days.

Amkor Technology Price Performance

NASDAQ AMKR opened at $26.62 on Wednesday. The company has a market cap of $6.57 billion, a PE ratio of 17.99 and a beta of 1.84. The firm’s 50 day moving average price is $27.51 and its 200-day moving average price is $31.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. Amkor Technology has a 52-week low of $24.10 and a 52-week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. Sell-side analysts forecast that Amkor Technology will post 1.42 EPS for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.0827 per share. This represents a $0.33 annualized dividend and a dividend yield of 1.24%. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 4th. Amkor Technology’s dividend payout ratio is presently 22.30%.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in Amkor Technology in the second quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new stake in shares of Amkor Technology in the 3rd quarter worth $39,000. Ashton Thomas Private Wealth LLC purchased a new position in Amkor Technology during the 2nd quarter worth $40,000. Larson Financial Group LLC increased its position in Amkor Technology by 911.3% during the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,130 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Amkor Technology in the second quarter valued at about $52,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMKR shares. StockNews.com lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their price target on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. KeyCorp decreased their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson decreased their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Morgan Stanley decreased their target price on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.29.

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.