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

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 22,027 put options on the stock. This is an increase of approximately 1,474% compared to the typical daily volume of 1,399 put options.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. KeyCorp reduced their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday. Needham & Company LLC dropped their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. assumed coverage on Amkor Technology in a research note on Monday, July 1st. They set an “overweight” rating and a $48.00 target price for the company. Finally, Morgan Stanley dropped their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.38.

Insider Activity

In other news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the sale, the director now owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The trade was a 0.00 % 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 institutional investors and hedge funds have recently modified their holdings of the company. Driehaus Capital Management LLC purchased a new position in Amkor Technology in the 2nd quarter valued at approximately $58,379,000. Millennium Management LLC boosted its holdings in Amkor Technology by 359.7% in the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock valued at $54,439,000 after purchasing an additional 1,064,404 shares during the period. American Century Companies Inc. increased its holdings in Amkor Technology by 54.4% during the 2nd quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after purchasing an additional 589,530 shares during the period. M&G Plc acquired a new stake in Amkor Technology in the 1st quarter valued at about $11,435,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Amkor Technology by 139.6% in the 2nd quarter. Squarepoint Ops LLC now owns 604,974 shares of the semiconductor company’s stock valued at $24,211,000 after buying an additional 352,471 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Trading Down 9.6 %

AMKR stock traded down $2.84 during trading on Tuesday, reaching $26.69. 1,758,488 shares of the stock were exchanged, compared to its average volume of 1,305,782. The company has a current ratio of 2.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 17.26 and a beta of 1.84. The business has a 50 day moving average price of $30.71 and a 200-day moving average price of $33.30. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted 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 business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. Amkor Technology’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. On average, research analysts predict that Amkor Technology will post 1.55 earnings per share for the current year.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio (DPR) is 20.39%.

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.