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

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) saw some unusual options trading on Monday. Stock traders bought 15,005 put options on the stock. This is an increase of approximately 640% compared to the typical volume of 2,027 put options.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMKR shares. Morgan Stanley dropped their price objective on shares of Amkor Technology from $35.00 to $26.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price on Amkor Technology from $48.00 to $42.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. KeyCorp dropped 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. The Goldman Sachs Group decreased their target price 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 decreased their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Amkor Technology currently has a consensus rating of "Moderate Buy" and an average price target of $36.29.

Amkor Technology Price Performance

Shares of AMKR traded up $0.20 during trading hours on Monday, reaching $25.39. The stock had a trading volume of 1,131,390 shares, compared to its average volume of 1,330,058. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. Amkor Technology has a 12 month low of $24.10 and a 12 month high of $44.86. The stock has a market capitalization of $6.26 billion, a PE ratio of 17.16 and a beta of 1.85. The company's 50-day moving average is $29.17 and its two-hundred day moving average is $32.87.

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

Amkor Technology Increases Dividend

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

Insider Activity

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the 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 transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Winston J. Churchill sold 20,000 shares of the business's 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 completion of the sale, the director now owns 19,871 shares of the company's stock, valued at $655,146.87. This trade represents a 50.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new position in Amkor Technology during the 2nd quarter worth approximately $31,000. Capital Performance Advisors LLP bought a new position in Amkor Technology during the third quarter worth $39,000. Ashton Thomas Private Wealth LLC acquired a new position in Amkor Technology in the second quarter valued at $40,000. Larson Financial Group LLC boosted its position in 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 acquiring an additional 1,130 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Amkor Technology during the 2nd quarter worth about $52,000. 42.76% of the stock is owned by institutional investors and hedge funds.

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.