Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,740,000 shares, an increase of 18.5% from the December 15th total of 4,000,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the days-to-cover ratio is currently 4.2 days. Approximately 4.9% of the shares of the stock are short sold.
A number of brokerages have commented on AMKR. Credit Suisse Group upgraded Amkor Technology from a “neutral” rating to an “outperform” rating and increased their target price for the company from $8.20 to $15.00 in a report on Tuesday, October 29th. ValuEngine upgraded Amkor Technology from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Deutsche Bank raised their price objective on Amkor Technology from $8.00 to $12.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th. BidaskClub upgraded Amkor Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 5th. Finally, TheStreet upgraded Amkor Technology from a “c+” rating to a “b-” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.67.
In other Amkor Technology news, Director Roger Anthony Carolin sold 40,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $12.90, for a total transaction of $516,000.00. Following the sale, the director now owns 62,383 shares in the company, valued at approximately $804,740.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Charles Stone sold 37,352 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $13.44, for a total value of $502,010.88. Following the sale, the executive vice president now owns 62,368 shares in the company, valued at approximately $838,225.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,752 shares of company stock worth $1,669,383. 59.60% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of AMKR. Charles Schwab Investment Management Inc. boosted its holdings in Amkor Technology by 3.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,545,932 shares of the semiconductor company’s stock valued at $11,533,000 after acquiring an additional 45,553 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Amkor Technology by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 926,284 shares of the semiconductor company’s stock valued at $6,910,000 after acquiring an additional 38,522 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Amkor Technology by 87.0% in the second quarter. Renaissance Technologies LLC now owns 2,380,300 shares of the semiconductor company’s stock valued at $17,757,000 after acquiring an additional 1,107,105 shares during the last quarter. Northern Trust Corp boosted its holdings in Amkor Technology by 10.0% in the second quarter. Northern Trust Corp now owns 3,681,204 shares of the semiconductor company’s stock valued at $27,462,000 after acquiring an additional 335,396 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in Amkor Technology by 52.1% in the second quarter. Commonwealth Bank of Australia now owns 74,700 shares of the semiconductor company’s stock valued at $557,000 after acquiring an additional 25,600 shares during the last quarter. Hedge funds and other institutional investors own 36.75% of the company’s stock.
AMKR stock opened at $12.78 on Tuesday. Amkor Technology has a 52-week low of $6.41 and a 52-week high of $15.24. The stock’s fifty day simple moving average is $12.80 and its 200-day simple moving average is $10.35. The company has a quick ratio of 1.46, a current ratio of 1.68 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 24.11 and a beta of 2.00.
Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.15. Amkor Technology had a return on equity of 3.51% and a net margin of 1.26%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. As a group, analysts anticipate that Amkor Technology will post 0.4 earnings per share for the current fiscal year.
About Amkor Technology
Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.
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