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

Amkor Technology, Inc. (NASDAQ:AMKR) saw some unusual options trading on Thursday. Stock traders bought 46,109 put options on the stock. This is an increase of 1,317% compared to the typical daily volume of 3,253 put options.

Insider Activity at Amkor Technology

In related news, EVP Kevin Engel sold 5,489 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Agnes C. Kim sold 869,565 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the sale, the insider now owns 10,020,870 shares in the company, valued at $218,956,009.50. This represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Amkor Technology by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 1,529,348 shares of the semiconductor company’s stock worth $39,289,000 after acquiring an additional 395,242 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Amkor Technology in the 4th quarter valued at approximately $8,344,000. Forum Financial Management LP increased its position in shares of Amkor Technology by 23.4% during the 4th quarter. Forum Financial Management LP now owns 8,637 shares of the semiconductor company’s stock valued at $222,000 after purchasing an additional 1,639 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Amkor Technology during the 4th quarter valued at approximately $1,603,000. Finally, CSS LLC IL raised its holdings in Amkor Technology by 9.4% during the 4th quarter. CSS LLC IL now owns 15,340 shares of the semiconductor company’s stock valued at $394,000 after buying an additional 1,320 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley cut their price objective on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research note on Tuesday, February 11th. B. Riley dropped their price objective on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their target price for the company from $34.00 to $30.00 in a report on Monday, January 6th. Finally, Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Amkor Technology Price Performance

AMKR stock traded down $1.01 during trading on Thursday, reaching $18.35. The company’s stock had a trading volume of 850,336 shares, compared to its average volume of 1,528,176. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The company’s fifty day moving average is $22.31 and its 200-day moving average is $25.88. The company has a market capitalization of $4.53 billion, a P/E ratio of 12.83 and a beta of 1.88. Amkor Technology has a 1 year low of $18.32 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Amkor Technology will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.0827 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.33 annualized dividend and a dividend yield of 1.80%. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

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.