Amkor Technology, Inc. (NASDAQ:AMKR) Short Interest Down 7.7% in March

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 3,110,000 shares, a decline of 7.7% from the March 15th total of 3,370,000 shares. Based on an average daily volume of 919,600 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.7% of the shares of the company are short sold.

Insider Buying and Selling

In related news, CFO Megan Faust sold 2,800 shares of Amkor Technology stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.09, for a total transaction of $87,052.00. Following the completion of the sale, the chief financial officer now owns 53,023 shares of the company’s stock, valued at $1,648,485.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Megan Faust sold 2,800 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.09, for a total value of $87,052.00. Following the completion of the sale, the chief financial officer now directly owns 53,023 shares in the company, valued at $1,648,485.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.23, for a total value of $780,750.00. Following the completion of the sale, the chief executive officer now owns 124,476 shares of the company’s stock, valued at $3,887,385.48. The disclosure for this sale can be found here. Insiders sold 58,200 shares of company stock valued at $1,801,870 over the last quarter. 53.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of Amkor Technology by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,860,585 shares of the semiconductor company’s stock valued at $494,421,000 after acquiring an additional 244,026 shares during the last quarter. Vanguard Group Inc. grew its stake in Amkor Technology by 7.0% during the 4th 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 during the last quarter. BlackRock Inc. grew its stake in Amkor Technology by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,142,932 shares of the semiconductor company’s stock worth $420,752,000 after buying an additional 835,069 shares during the last quarter. Alliancebernstein L.P. grew its stake in Amkor Technology by 1,757.9% during the 2nd quarter. Alliancebernstein L.P. now owns 4,182,333 shares of the semiconductor company’s stock worth $124,424,000 after buying an additional 3,957,221 shares during the last quarter. Finally, State Street Corp grew its stake in Amkor Technology by 2.8% during the 1st quarter. State Street Corp now owns 3,515,892 shares of the semiconductor company’s stock worth $91,484,000 after buying an additional 95,883 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Up 0.6 %

AMKR stock traded up $0.18 during mid-day trading on Tuesday, reaching $31.48. The company had a trading volume of 253,229 shares, compared to its average volume of 913,561. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 21.44 and a beta of 1.96. The firm has a fifty day simple moving average of $31.70 and a 200 day simple moving average of $29.23. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.68 billion. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. Amkor Technology’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Analysts forecast that Amkor Technology will post 1.63 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. Amkor Technology’s payout ratio is currently 21.23%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMKR. The Goldman Sachs Group began coverage on Amkor Technology in a report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 target price for the company. Needham & Company LLC initiated coverage on Amkor Technology in a report on Tuesday, April 9th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Fox Advisors initiated coverage on Amkor Technology in a research note on Thursday, March 14th. They issued an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amkor Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

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.