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

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) saw unusually large options trading on Thursday. Investors purchased 46,109 put options on the stock. This represents an increase of 1,317% compared to the average daily volume of 3,253 put options.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMKR. Melius Research downgraded Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Needham & Company LLC restated a "buy" rating and set a $34.00 target price on shares of Amkor Technology in a report on Tuesday, February 11th. B. Riley cut their price target on shares of Amkor Technology from $38.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Melius lowered shares of Amkor Technology from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Amkor Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

Insiders Place Their Bets

In related news, EVP Kevin Engel sold 5,489 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the sale, the executive vice president now directly owns 1,388 shares of the company's stock, valued at approximately $30,105.72. The trade was a 79.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the transaction, the insider now directly owns 10,020,870 shares of the company's stock, valued at approximately $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. Corporate insiders own 31.40% of the company's stock.

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Institutional Trading of Amkor Technology

A number of institutional investors and hedge funds have recently bought and sold shares of AMKR. Wellington Management Group LLP increased its stake in shares of Amkor Technology by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 1,529,348 shares of the semiconductor company's stock valued at $39,289,000 after buying an additional 395,242 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Amkor Technology during the 4th quarter worth approximately $8,344,000. Forum Financial Management LP lifted its position in shares of Amkor Technology by 23.4% in the 4th quarter. Forum Financial Management LP now owns 8,637 shares of the semiconductor company's stock worth $222,000 after purchasing an additional 1,639 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Amkor Technology in the 4th quarter valued at $1,603,000. Finally, CSS LLC IL increased its position in shares of Amkor Technology by 9.4% during the fourth quarter. CSS LLC IL now owns 15,340 shares of the semiconductor company's stock worth $394,000 after buying an additional 1,320 shares during the period. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Amkor Technology Stock Performance

Shares of NASDAQ AMKR traded down $0.24 during trading hours on Monday, reaching $18.06. 2,141,028 shares of the stock were exchanged, compared to its average volume of 1,593,409. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 12.63 and a beta of 1.88. The stock's fifty day simple moving average is $22.01 and its 200 day simple moving average is $25.70. Amkor Technology has a 52 week low of $17.61 and a 52 week high of $44.86.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, topping 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%. Sell-side analysts predict that Amkor Technology will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.0827 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.83%. Amkor Technology's dividend payout ratio (DPR) is presently 23.08%.

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.