Amkor Technology, Inc. (NASDAQ:AMKR) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 3,580,000 shares, a decrease of 18.1% from the June 30th total of 4,370,000 shares. Approximately 4.8% of the shares of the company are sold short. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 2.8 days.
AMKR has been the topic of a number of research reports. Credit Suisse Group lowered shares of Amkor Technology from an “outperform” rating to a “neutral” rating and set a $10.50 price target on the stock. in a research note on Tuesday, April 28th. TheStreet upgraded shares of Amkor Technology from a “c+” rating to a “b-” rating in a research note on Wednesday, June 17th. Citigroup decreased their target price on shares of Amkor Technology from $12.00 to $9.20 and set a “sell” rating on the stock in a research report on Wednesday, April 29th. Sidoti increased their target price on shares of Amkor Technology from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, BidaskClub upgraded shares of Amkor Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $11.94.
Shares of NASDAQ:AMKR opened at $13.60 on Friday. The company’s 50 day moving average price is $12.23 and its two-hundred day moving average price is $10.79. Amkor Technology has a 12-month low of $5.40 and a 12-month high of $15.80. The firm has a market cap of $3.28 billion, a PE ratio of 12.03 and a beta of 1.72. The company has a quick ratio of 1.83, a current ratio of 2.06 and a debt-to-equity ratio of 0.71.
Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.25. Amkor Technology had a net margin of 5.94% and a return on equity of 13.77%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. On average, research analysts expect that Amkor Technology will post 1 EPS for the current year.
In related news, CFO Megan Faust sold 4,500 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $11.07, for a total value of $49,815.00. Following the transaction, the chief financial officer now owns 11,719 shares in the company, valued at approximately $129,729.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Guillaume Marie Jean Rutten sold 7,838 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $12.85, for a total transaction of $100,718.30. Following the completion of the transaction, the executive vice president now owns 7,838 shares in the company, valued at approximately $100,718.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,338 shares of company stock worth $1,031,053. 59.30% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System bought a new stake in shares of Amkor Technology during the 2nd quarter worth approximately $41,000. First Command Bank bought a new stake in shares of Amkor Technology during the 2nd quarter worth approximately $117,000. Cigna Investments Inc. New bought a new stake in shares of Amkor Technology during the 1st quarter worth approximately $85,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Amkor Technology by 24.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,540 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 2,239 shares during the period. Finally, Triton Wealth Management PLLC bought a new stake in shares of Amkor Technology during the 2nd quarter worth approximately $183,000. 37.72% of the stock is owned by institutional investors.
Amkor Technology Company Profile
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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