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

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 3,750,000 shares, an increase of 15.7% from the September 15th total of 3,240,000 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,630,000 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analyst Weigh In

AMKR has been the subject of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 price target for the company. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. KeyCorp began coverage on Amkor Technology in a research report on Friday, September 20th. They set an “overweight” rating and a $38.00 price target for the company. B. Riley boosted their price target on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Needham & Company LLC boosted their price target on Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.75.

Amkor Technology Stock Up 1.9 %

NASDAQ AMKR traded up $0.58 during trading on Monday, reaching $31.50. The company’s stock had a trading volume of 341,016 shares, compared to its average volume of 1,305,479. The company has a current ratio of 2.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $7.74 billion, a PE ratio of 20.34 and a beta of 1.84. The business has a 50-day moving average price of $30.90 and a 200-day moving average price of $33.43. Amkor Technology has a 1-year low of $17.58 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, research analysts forecast that Amkor Technology will post 1.55 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 3rd were given a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is 20.39%.

Insider Transactions at Amkor Technology

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors have recently modified their holdings of AMKR. Pineridge Advisors LLC bought a new position in Amkor Technology during the fourth quarter worth $28,000. Goldman Sachs Group Inc. increased its position in Amkor Technology by 4.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock worth $46,927,000 after acquiring an additional 63,104 shares during the period. Wellington Management Group LLP boosted its stake in Amkor Technology by 6.0% during the fourth quarter. Wellington Management Group LLP now owns 200,833 shares of the semiconductor company’s stock worth $6,682,000 after buying an additional 11,452 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Amkor Technology by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 87,364 shares of the semiconductor company’s stock worth $2,907,000 after buying an additional 2,207 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Amkor Technology by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock worth $490,965,000 after buying an additional 959,838 shares in the last quarter. Institutional investors 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.