Amkor Technology Target of Unusually Large Options Trading (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of unusually large options trading on Tuesday. Traders bought 40,007 put options on the company. This represents an increase of 1,004% compared to the typical daily volume of 3,623 put options.

Amkor Technology Trading Up 0.4 %

Shares of NASDAQ:AMKR opened at $15.96 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. Amkor Technology has a 52-week low of $14.03 and a 52-week high of $44.86. The company has a 50-day simple moving average of $18.99 and a 200 day simple moving average of $23.92. The company has a market capitalization of $3.94 billion, a P/E ratio of 11.16 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.43 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%. Sell-side analysts forecast that Amkor Technology will post 1.47 earnings per share for the current year.

Amkor Technology Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were issued a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is presently 23.08%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMKR. KeyCorp reaffirmed a “sector weight” rating on shares of Amkor Technology in a research note on Thursday, April 17th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target on shares of Amkor Technology in a research report on Tuesday, February 11th. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Finally, Melius cut shares of 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. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

Insider Transactions at Amkor Technology

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $21.85, for a total value of $18,999,995.25. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kevin Engel sold 5,489 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the transaction, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at $30,105.72. This trade represents a 79.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Amkor Technology during the fourth quarter worth $32,479,000. UG Investment Advisers Ltd. acquired a new stake in Amkor Technology during the 1st quarter worth about $21,057,000. Vanguard Group Inc. boosted its holdings in shares of 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 in the last quarter. Principal Financial Group Inc. lifted its position in shares of 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 valued at $41,647,000 after acquiring an additional 925,644 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Amkor Technology by 15.8% during the 4th quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock worth $104,853,000 after purchasing an additional 556,761 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

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.