Stock Traders Purchase Large Volume of Amkor Technology Put Options (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of some unusual options trading on Monday. Investors acquired 15,005 put options on the stock. This represents an increase of approximately 640% compared to the average daily volume of 2,027 put options.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMKR shares. DA Davidson reduced their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. KeyCorp decreased their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group cut their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Amkor Technology presently has an average rating of “Moderate Buy” and a consensus target price of $36.29.

Amkor Technology Stock Up 0.8 %

Shares of Amkor Technology stock opened at $25.39 on Tuesday. Amkor Technology has a 1 year low of $24.10 and a 1 year high of $44.86. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 17.16 and a beta of 1.85. The company has a 50-day moving average of $29.17 and a 200 day moving average of $32.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $0.54 EPS. Amkor Technology’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amkor Technology will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.0827 per share. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a yield of 1.30%. Amkor Technology’s payout ratio is presently 20.95%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the sale, the chief executive officer now owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This trade represents a 50.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several hedge funds have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. purchased a new position in shares of Amkor Technology in the 2nd quarter worth about $31,000. Capital Performance Advisors LLP bought a new stake in Amkor Technology during the 3rd quarter valued at about $39,000. Ashton Thomas Private Wealth LLC purchased a new position in Amkor Technology in the second quarter worth about $40,000. Larson Financial Group LLC lifted its stake in shares of Amkor Technology by 911.3% in the second 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 in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Amkor Technology in the second quarter worth approximately $52,000. 42.76% of the stock is owned by institutional investors.

About Amkor Technology

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.