Traders Buy High Volume of Amkor Technology Put Options (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of some unusual options trading on Monday. Stock traders bought 15,025 put options on the company. This is an increase of approximately 544% compared to the typical volume of 2,333 put options.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMKR shares. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. DA Davidson decreased their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Morgan Stanley lowered their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lowered their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.29.

Amkor Technology Stock Down 0.4 %

NASDAQ AMKR opened at $25.69 on Wednesday. Amkor Technology has a 52 week low of $24.10 and a 52 week high of $44.86. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.34 billion, a P/E ratio of 17.36 and a beta of 1.84. The stock’s 50-day moving average price is $26.66 and its 200-day moving average price is $31.44.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. Amkor Technology’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. On average, equities research analysts predict that Amkor Technology will post 1.42 earnings per share for the current year.

Amkor Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th were issued a $0.0827 dividend. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Wednesday, December 4th. Amkor Technology’s payout ratio is currently 22.30%.

Insider Buying and Selling at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology 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 sale, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Amkor Technology by 8.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 333 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Amkor Technology by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock valued at $665,000 after acquiring an additional 357 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Amkor Technology by 46.3% in the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 580 shares in the last quarter. Arizona State Retirement System increased its position in Amkor Technology by 2.0% in the second quarter. Arizona State Retirement System now owns 31,010 shares of the semiconductor company’s stock worth $1,241,000 after purchasing an additional 616 shares during the last quarter. Finally, Highland Capital Management LLC raised its stake in Amkor Technology by 10.9% during the third quarter. Highland Capital Management LLC now owns 7,332 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 720 shares in the last quarter. Institutional investors 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.