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

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMKR shares. KeyCorp reaffirmed a "sector weight" rating on shares of Amkor Technology in a report 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 lowered shares of Amkor Technology from a "buy" rating to a "hold" rating and decreased their target price for the company from $34.00 to $30.00 in a report on Monday, January 6th. Melius Research downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their target price on Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $31.50.

Amkor Technology Trading Up 1.0 %

Shares of AMKR stock traded up $0.15 during mid-day trading on Tuesday, reaching $16.04. 267,619 shares of the stock traded hands, compared to its average volume of 1,719,013. The stock's fifty day simple moving average is $19.11 and its two-hundred day simple moving average is $23.98. Amkor Technology has a 1-year low of $14.03 and a 1-year high of $44.86. 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 has a market cap of $3.96 billion, a price-to-earnings ratio of 11.18 and a beta of 1.88.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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 anticipate that Amkor Technology will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were paid a $0.0827 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.33 annualized dividend and a dividend yield of 2.06%. Amkor Technology's dividend payout ratio is presently 23.08%.

Insider Buying and Selling

In related news, EVP Kevin Engel sold 5,489 shares of Amkor Technology 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 owns 1,388 shares in the company, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the business'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 value of $18,999,995.25. Following the transaction, the insider now directly owns 10,020,870 shares in the company, valued at $218,956,009.50. The trade was a 7.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amkor Technology

Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Amkor Technology during the fourth quarter worth $32,479,000. UG Investment Advisers Ltd. bought a new stake in shares of Amkor Technology in the 1st quarter worth $21,057,000. Vanguard Group Inc. lifted its position in shares of Amkor Technology by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company's stock valued at $402,414,000 after purchasing an additional 1,092,002 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Amkor Technology by 212.6% during the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company's stock worth $41,647,000 after purchasing an additional 925,644 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Amkor Technology by 15.8% in the 4th quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company's stock valued at $104,853,000 after buying an additional 556,761 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors.

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.

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