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

Amkor Technology, Inc. (NASDAQ:AMKR) saw some unusual options trading on Tuesday. Stock traders acquired 41,439 put options on the company. This is an increase of 1,079% compared to the typical daily volume of 3,515 put options.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMKR shares. Morgan Stanley cut their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. B. Riley cut their target price 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 Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.50.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin Engel sold 5,489 shares of Amkor Technology stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 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. Company insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently made changes to their positions in AMKR. Principal Financial Group Inc. grew its holdings in shares of Amkor Technology by 212.6% in 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 buying an additional 925,644 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Amkor Technology in the 3rd quarter valued at $39,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Amkor Technology by 5.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 60,181 shares of the semiconductor company’s stock valued at $1,842,000 after buying an additional 3,008 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Amkor Technology by 16.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,505 shares of the semiconductor company’s stock valued at $260,000 after buying an additional 1,191 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Amkor Technology by 68.0% in the 3rd quarter. Victory Capital Management Inc. now owns 212,809 shares of the semiconductor company’s stock valued at $6,512,000 after buying an additional 86,148 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $19.23 on Wednesday. The firm has a fifty day moving average of $23.72 and a two-hundred day moving average of $26.77. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 13.45 and a beta of 1.88. Amkor Technology has a 52 week low of $19.01 and a 52 week high of $44.86. 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 (NASDAQ:AMKR) last issued 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 net margin of 5.60% and a return on equity of 8.59%. As a group, equities research analysts predict that Amkor Technology will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The company 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 $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

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.