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

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

Wall Street Analysts Forecast Growth

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

Amkor Technology Trading Down 3.3 %

Amkor Technology stock traded down $1.07 during trading on Monday, reaching $31.30. The company had a trading volume of 749,770 shares, compared to its average volume of 922,983. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $37.00. The stock’s 50 day moving average price is $31.70 and its two-hundred day moving average price is $29.23. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 21.44 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31.

Amkor Technology (NASDAQ:AMKR) last released its 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. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. Amkor Technology’s revenue was down 8.1% compared to the same quarter last year. As a group, equities analysts expect that Amkor Technology will post 1.63 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a dividend of $0.079 per share. The ex-dividend date was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. Amkor Technology’s dividend payout ratio (DPR) is 21.23%.

Insider Activity at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the sale, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the sale, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the transaction, the chief executive officer now owns 123,728 shares of the company’s stock, valued at approximately $3,789,788.64. The disclosure for this sale can be found here. Insiders sold 58,200 shares of company stock worth $1,801,870 over the last 90 days. Company insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Amkor Technology by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,860,585 shares of the semiconductor company’s stock valued at $494,421,000 after buying an additional 244,026 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 959,838 shares in the last quarter. BlackRock Inc. lifted its position in shares of Amkor Technology by 6.3% during the second quarter. BlackRock Inc. now owns 14,142,932 shares of the semiconductor company’s stock worth $420,752,000 after purchasing an additional 835,069 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Amkor Technology by 1,757.9% during the second quarter. Alliancebernstein L.P. now owns 4,182,333 shares of the semiconductor company’s stock worth $124,424,000 after purchasing an additional 3,957,221 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Amkor Technology by 2.8% during the first quarter. State Street Corp now owns 3,515,892 shares of the semiconductor company’s stock worth $91,484,000 after purchasing an additional 95,883 shares in the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

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.