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

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

Amkor Technology Trading Down 3.7 %

Shares of NASDAQ:AMKR traded down $0.73 during trading on Tuesday, hitting $19.09. The company had a trading volume of 1,078,109 shares, compared to its average volume of 1,446,727. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 13.31 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. The company has a fifty day simple moving average of $23.85 and a two-hundred day simple moving average of $26.87. Amkor Technology has a one year low of $19.02 and a one year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, topping 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 analysts forecast that Amkor Technology will post 1.47 earnings per share for the current year.

Amkor Technology Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th will be given a $0.0827 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 1.73%. Amkor Technology’s dividend payout ratio (DPR) is 23.08%.

Insider Buying and Selling at Amkor Technology

In other news, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. This trade represents a 79.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This trade represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMKR. SBI Securities Co. Ltd. purchased a new stake in shares of Amkor Technology in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp lifted its holdings in Amkor Technology by 353.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after buying an additional 1,160 shares during the period. Capital Performance Advisors LLP purchased a new stake in Amkor Technology during the third quarter worth $39,000. Bessemer Group Inc. boosted its position in Amkor Technology by 421.0% during the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 1,242 shares in the last quarter. Finally, Hurley Capital LLC purchased a new position in shares of Amkor Technology in the 4th quarter valued at $43,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMKR. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their target price for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. 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. Morgan Stanley dropped 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 report on Tuesday, February 11th. 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. Finally, B. Riley cut their target price on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.50.

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.