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

Amkor Technology, Inc. (NASDAQ:AMKR) saw unusually large options trading on Monday. Investors acquired 15,025 put options on the stock. This is an increase of 544% compared to the typical daily volume of 2,333 put options.

Amkor Technology Price Performance

Shares of AMKR stock traded down $0.20 during trading hours on Monday, reaching $25.86. The company had a trading volume of 180,995 shares, compared to its average volume of 1,313,202. Amkor Technology has a 12-month low of $24.10 and a 12-month high of $44.86. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 17.47 and a beta of 1.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. The stock has a fifty day moving average of $26.75 and a 200-day moving average of $31.50.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The company had revenue of $1.86 billion during 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 revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.54 earnings per share. On average, equities analysts anticipate that Amkor Technology will post 1.42 earnings per share for the current year.

Amkor Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were issued a $0.0827 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a yield of 1.28%. Amkor Technology’s dividend payout ratio is currently 22.30%.

Insiders Place Their Bets

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 31.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in shares of Amkor Technology by 24,383.3% in the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after acquiring an additional 3,772,095 shares during the period. Driehaus Capital Management LLC purchased a new stake in Amkor Technology in the second quarter valued at approximately $58,379,000. Ceredex Value Advisors LLC acquired a new position in Amkor Technology during the third quarter worth $42,610,000. Millennium Management LLC lifted its stake in Amkor Technology by 359.7% during the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock worth $54,439,000 after purchasing an additional 1,064,404 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Amkor Technology by 522.0% in the third quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock valued at $34,704,000 after buying an additional 951,764 shares in the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMKR has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC reduced their target price on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, DA Davidson decreased their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Amkor Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.29.

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.