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

Amkor Technology, Inc. (NASDAQ:AMKR) was the recipient of unusually large options trading on Thursday. Traders bought 46,109 put options on the company. This is an increase of 1,317% compared to the typical volume of 3,253 put options.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMKR shares. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and dropped their price objective for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of Amkor Technology in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price objective on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, B. Riley decreased their price target on shares of Amkor Technology from $38.00 to $32.00 and set a “buy” rating on the stock in a report 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Insider Transactions at Amkor Technology

In other Amkor Technology 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 of the company’s stock, valued at $30,105.72. The trade was a 79.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction dated 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 sale, the insider now directly owns 10,020,870 shares in the company, 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.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in Amkor Technology by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 160,991 shares of the semiconductor company’s stock valued at $4,926,000 after buying an additional 8,598 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Amkor Technology by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company’s stock valued at $57,495,000 after purchasing an additional 88,226 shares in the last quarter. Cerity Partners LLC raised its holdings in Amkor Technology by 145.5% in the third quarter. Cerity Partners LLC now owns 324,148 shares of the semiconductor company’s stock worth $9,919,000 after buying an additional 192,093 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Amkor Technology by 46.3% during the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 580 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Amkor Technology by 15.4% during the third quarter. Fisher Asset Management LLC now owns 210,379 shares of the semiconductor company’s stock valued at $6,438,000 after acquiring an additional 28,137 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Trading Down 5.2 %

NASDAQ:AMKR traded down $1.01 during trading hours on Thursday, reaching $18.35. The company’s stock had a trading volume of 850,336 shares, compared to its average volume of 1,528,176. 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 $4.53 billion, a price-to-earnings ratio of 12.83 and a beta of 1.88. The firm has a 50-day simple moving average of $22.31 and a 200-day simple moving average of $25.88. Amkor Technology has a 1 year low of $18.32 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. Research analysts expect 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 will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th will be paid a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, March 13th. Amkor Technology’s payout ratio is 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.