Investors Buy Large Volume of Put Options on Amkor Technology (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of some unusual options trading on Thursday. Traders acquired 15,008 put options on the stock. This is an increase of 644% compared to the typical volume of 2,018 put options.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMKR shares. KeyCorp lowered their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. The Goldman Sachs Group cut their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. DA Davidson dropped their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Morgan Stanley reduced their price target on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Amkor Technology has an average rating of “Moderate Buy” and an average target price of $36.29.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $26.54 on Friday. The stock has a fifty day moving average price of $27.64 and a 200 day moving average price of $32.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. The stock has a market cap of $6.55 billion, a PE ratio of 17.93 and a beta of 1.84. Amkor Technology has a 1 year low of $24.10 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Amkor Technology’s quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Amkor Technology will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be issued a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.25%. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 4th. Amkor Technology’s dividend payout ratio is 22.30%.

Insider Activity

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors have recently modified their holdings of AMKR. 1620 Investment Advisors Inc. acquired a new position in Amkor Technology in the 2nd quarter valued at $31,000. Capital Performance Advisors LLP acquired a new position in Amkor Technology in the third quarter valued at $39,000. Ashton Thomas Private Wealth LLC purchased a new position in Amkor Technology during the second quarter worth about $40,000. Larson Financial Group LLC boosted its stake in Amkor Technology by 911.3% in the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after buying an additional 1,130 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Amkor Technology in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.