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

Amkor Technology, Inc. (NASDAQ:AMKR) saw a significant increase in short interest in 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 days-to-cover ratio is currently 3.3 days. Currently, 5.5% of the shares of the company are short sold.

Wall Street Analyst Weigh In

AMKR has been the subject of a number of analyst reports. B. Riley cut their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of Amkor Technology in a research report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price target on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Amkor Technology currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Amkor Technology Stock Down 0.2 %

Amkor Technology stock opened at $19.55 on Wednesday. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 13.67 and a beta of 1.88. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $23.03 and its two-hundred day moving average price is $26.30. Amkor Technology has a 52 week low of $18.87 and a 52 week high of $44.86.

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

Amkor Technology Cuts Dividend

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

Insider Buying and Selling at Amkor Technology

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

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Amkor Technology in the fourth quarter worth $27,000. Jones Financial Companies Lllp grew its stake in shares of Amkor Technology by 353.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 1,160 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Amkor Technology by 421.0% in the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 1,242 shares during the last quarter. Hurley Capital LLC acquired a new stake in Amkor Technology during the fourth quarter worth $43,000. Finally, Larson Financial Group LLC boosted its stake in Amkor Technology by 46.3% during the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock worth $56,000 after buying an additional 580 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.