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

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of some unusual options trading on Tuesday. Investors purchased 41,439 put options on the company. This represents an increase of approximately 1,079% compared to the average daily volume of 3,515 put options.

Analysts Set New Price Targets

Several research firms have weighed in on AMKR. Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Morgan Stanley reduced their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and reduced their price target for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. B. Riley reduced their target price on Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reduced their price target on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Amkor Technology Stock Up 1.0 %

AMKR stock opened at $19.42 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The business’s 50-day moving average is $23.60 and its two-hundred day moving average is $26.72. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 13.58 and a beta of 1.88. Amkor Technology has a fifty-two week low of $19.01 and a fifty-two week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. As a group, analysts forecast that Amkor Technology will post 1.47 earnings per share for the current year.

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.0827 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 1.70%. Amkor Technology’s payout ratio is currently 23.08%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This represents a 79.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMKR. Pacer Advisors Inc. increased its holdings in shares of Amkor Technology by 24,383.3% in the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after acquiring an additional 3,772,095 shares during the period. Norges Bank purchased a new position in Amkor Technology during the 4th quarter worth $32,479,000. Vanguard Group Inc. grew its stake in Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock worth $402,414,000 after buying an additional 1,092,002 shares during the last quarter. Wellington Management Group LLP lifted its position in Amkor Technology by 522.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock worth $34,704,000 after acquiring an additional 951,764 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock worth $41,647,000 after acquiring an additional 925,644 shares during the period. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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.