It's clear to me that AMKR is on its way up this week and I have to give props to the company that gives me great picks like AMKR: Prophet Alerts. They are hands down one of the most informative and profit gaining companies (on their alerts of course) that is out there IMO. Stop reading this and go subscribe!
They're owned by Kim AND an entity controlled by KIm.
"In April 2009, we issued $250.0 million of our 6.0% Convertible Senior Subordinated Notes due April 2014 (the “2014 Notes”). The 2014 Notes are convertible at any time prior to the maturity date into our common stock at a price of approximately $3.02 per share, subject to adjustment. The 2014 Notes are subordinated to the prior payment in full of all of our senior debt. The 2014 Notes were purchased by certain qualified institutional buyers and Mr. James J. Kim, our Executive Chairman of the Board of Directors, and an entity controlled by Mr. Kim. Mr. Kim and his affiliate purchased $150.0 million of the 2014 Notes. "
If you are short i strongly advise you to review the 1qeps report last night and listen to the call. The numbers and guidance was much better than expected and the long-term growth is huge. I would cover because this stock could double. Who is stupid enough to short a stock near a 52 week low at a p/e of 7 and an ev/ebitda of 3.5?
What they actually book as far as the Tessera compensation is not critical Q to Q, as this has been factored into the equation since the settlement was announced. Now it's all back to being about the business and growth, and the company did beat and show growth. The settlement is just a "business expense" now, and the stock will reflect the actual growth trend and anticipateds growth to come. $5 again shortly.
Sentiment: Strong Buy
The converts are held by the Kim family (director of the Board) and I am sure they would not and probably could not short the shares of their own company. I think the short interest is real and this is going to be a VERY UGLY squeeze.
Kim is a significant holder of the convertibles which convert at 3.02. He's smiling as he shorts the hell out this and cashes in on both sides of the equation. Stop whining and do your homework.
A large % of those are no doubt holders of the convertibles thus virtually in a no risk position. If you're waiting for a squeeze you have been snookered.
My guess that this was the CC that we longs have been waiting for, for some time! We could be looking at 90 cents for 2012 and 1.20+ in 2014. The question on the possible Apple business seemed to receive a nervous response. If that were to happen it would quickly use the remaining 20%. We all know what happens to margins when run rates near capacity, as JB use to say, " They start to print money." Great outlook on almost all fronts except for no buy backs but putting the last 90 million into the new operations should more than make up for the somewhat larger share count, hope it all comes together. I think it will!
While I think you are right that a good portion of the loss relates to Tessera don't forget that they only booked the minimum accrual that was more likely than not. There is likely more to come and it will weigh on future quarters. Korea Inc. seems to be holding up but the Won is increasing and that will weigh on future results as well.
Still, they are doing o.k. and that is certainly better than what most people expected.
Very strong AH action and there will be carryover tomorrow. Nearly all of the drop has been related to Tessera and they are minimizing the effect of the settlement. Business is improving, and that's what will drive the stock price back up. I think the stock will climb back up to the $4.50-$4.75 area and form a new base before advancing past $5 later this year. If there is a pullback under $4---jump on it. Coming in at the high end of expectations answered a lot of questions.
Sentiment: Strong Buy
On my trading platform you are only allowed to take a short position at 5:00 and above. I shorted 2000 shares (not much) when it hit 5;00 after last earnings. Covered and bought here. but only a small trading position.
It seems that every earnigs report is bad. I agrre seems like a good entry for tradig stocks but maybe we get low 3's after earnings. looks what happedn last earning from 5:00 to here
They see something coming, there not the only ones looking to break ground on expansion, and forcast are looking good for tech 2nd half.
ASE, SPIL 2Q13 sales outlook optimistic.
TSMC has forecast a 16-17.5% revenue rise for the second quarter.
Good time to reload trading shrs, my core position in AMKR is suffering but the few I like to trade are priced right , right now.
I wish they would finish the buy back down here in the 3$ range.
Same old stuff. Board complicity and total lack of accountability insults those of us still foolish to think we've invested in a public company. What Kim is doing to this company is far worse than what former head legal guy did with his inside trading.
Privately held Amkor Technology, one of the world’s worst run semiconductor companies, is rumored to be going public. The company’s bankers are considering an IPO price of $11 per share, which Amkor founder Jim Kim believes represents an appropriate valuation that “leaves an attractive upside to equity holders who appreciate the inherent value in my company and who have patience in allowing Amkor management to fulfill our strategic corporate objectives.”