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

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of unusually large options trading on Monday. Traders acquired 15,005 put options on the stock. This represents an increase of approximately 640% compared to the typical volume of 2,027 put options.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMKR shares. Morgan Stanley cut their price objective 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. KeyCorp cut their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reduced 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 report on Tuesday, October 29th. The Goldman Sachs Group dropped their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Finally, Needham & Company LLC reduced their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.29.

Amkor Technology Trading Up 0.8 %

Shares of NASDAQ:AMKR opened at $25.39 on Tuesday. The stock has a 50 day moving average of $29.17 and a 200 day moving average of $32.87. The company has a market cap of $6.26 billion, a PE ratio of 17.16 and a beta of 1.85. Amkor Technology has a 12-month low of $24.10 and a 12-month high of $44.86. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results 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). The firm had revenue of $1.86 billion during 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%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 earnings per share. As a group, equities research analysts expect that Amkor Technology will post 1.42 EPS for the current year.

Amkor Technology Increases Dividend

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

Insider Transactions at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction that occurred on 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 $655,146.87. The trade was a 50.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several large investors have recently made changes to their positions in the business. 1620 Investment Advisors Inc. purchased a new stake in shares of Amkor Technology during the second quarter worth about $31,000. Capital Performance Advisors LLP bought a new position in Amkor Technology in the 3rd quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in Amkor Technology during the 2nd quarter valued at approximately $40,000. Larson Financial Group LLC raised its position in shares of Amkor Technology by 911.3% during the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,130 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Amkor Technology during the second quarter valued at approximately $52,000. 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.