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

Amkor Technology, Inc. (NASDAQ:AMKR – Get Rating) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,120,000 shares, a drop of 21.2% from the February 13th total of 3,960,000 shares. Currently, 4.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,020,000 shares, the short-interest ratio is presently 3.1 days.

Analysts Set New Price Targets

Separately, StockNews.com raised Amkor Technology from a “hold” rating to a “buy” rating in a report on Saturday.

Insiders Place Their Bets

In related news, major shareholder Susan Y. Kim sold 1,920,000 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $25.28, for a total value of $48,537,600.00. Following the transaction, the insider now directly owns 7,261,498 shares in the company, valued at $183,570,669.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $25.68, for a total value of $770,400.00. Following the completion of the transaction, the chief executive officer now directly owns 170,000 shares in the company, valued at approximately $4,365,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Susan Y. Kim sold 1,920,000 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $25.28, for a total transaction of $48,537,600.00. Following the sale, the insider now owns 7,261,498 shares in the company, valued at approximately $183,570,669.44. The disclosure for this sale can be found here. Insiders have sold 2,026,250 shares of company stock worth $51,436,355 in the last 90 days. Company insiders own 56.50% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of AMKR. Earnest Partners LLC grew its position in Amkor Technology by 280.0% during the 4th quarter. Earnest Partners LLC now owns 1,794,499 shares of the semiconductor company’s stock worth $43,032,000 after acquiring an additional 1,322,267 shares during the last quarter. Norges Bank bought a new stake in Amkor Technology during the 4th quarter worth $20,372,000. Arrowstreet Capital Limited Partnership grew its position in Amkor Technology by 477.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,011,219 shares of the semiconductor company’s stock worth $24,249,000 after acquiring an additional 836,109 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Amkor Technology by 28.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,954,554 shares of the semiconductor company’s stock valued at $49,312,000 after buying an additional 656,355 shares during the last quarter. Finally, SW Investment Management LLC grew its position in shares of Amkor Technology by 13.5% in the 2nd quarter. SW Investment Management LLC now owns 3,405,561 shares of the semiconductor company’s stock valued at $57,724,000 after buying an additional 405,561 shares during the last quarter. Institutional investors own 38.07% of the company’s stock.

Amkor Technology Price Performance

Amkor Technology stock opened at $25.36 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.61 and a current ratio of 1.99. Amkor Technology has a 52 week low of $14.89 and a 52 week high of $31.38. The stock has a market capitalization of $6.22 billion, a P/E ratio of 8.15 and a beta of 1.76. The stock has a fifty day moving average of $27.95 and a 200-day moving average of $24.04.

Amkor Technology (NASDAQ:AMKR – Get Rating) last posted its quarterly earnings results on Monday, February 13th. The semiconductor company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). Amkor Technology had a return on equity of 22.57% and a net margin of 10.80%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm posted $0.88 EPS. Amkor Technology’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that Amkor Technology will post 2.15 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Tuesday, February 28th will be given a dividend of $0.075 per share. The ex-dividend date is Monday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 1.18%. Amkor Technology’s dividend payout ratio is currently 9.65%.

About Amkor Technology

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Amkor Technology, Inc provides outsourced semiconductor packaging and test services. Its services include design, package characterization, test and wafer bumping services. The firm’s operations include production facilities, product development centers, and sales and support offices. The company was founded in 1986 and is headquartered in Tempe, AZ.