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

Amkor Technology, Inc. (NASDAQ:AMKR) was the target of some unusual options trading on Monday. Traders purchased 21,109 put options on the company. This represents an increase of 161% compared to the average daily volume of 8,088 put options.

Analyst Upgrades and Downgrades

AMKR has been the subject of a number of recent research reports. Bank of America started coverage on Amkor Technology in a research note on Thursday, August 27th. They issued a “buy” rating and a $70.00 target price for the company. Zacks Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Weiss Ratings raised shares of Amkor Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. B. Riley Financial dropped their price objective on shares of Amkor Technology from $65.00 to $46.00 and set a “neutral” rating for the company in a report on Tuesday, October 20th. Finally, Morgan Stanley raised their price objective on shares of Amkor Technology from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.22.

Amkor Technology Trading Down 1.7%

Shares of AMKR stock traded down $0.66 during trading on Monday, hitting $38.64. 4,866,333 shares of the stock traded hands, compared to its average volume of 4,787,057. The firm has a market capitalization of $9.60 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 0.48 and a beta of 2.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.17 and a quick ratio of 1.91. The firm’s fifty day moving average price is $49.29 and its 200-day moving average price is $61.79. Amkor Technology has a 52-week low of $29.50 and a 52-week high of $96.68.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.23. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Amkor Technology had a return on equity of 12.27% and a net margin of 7.45%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, research analysts forecast that Amkor Technology will post 2.60 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd were given a $0.0835 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $0.33 dividend on an annualized basis and a yield of 0.9%. Amkor Technology’s payout ratio is currently 14.80%.

Insider Transactions at Amkor Technology

In other Amkor Technology news, Director Giel Rutten sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $55.35, for a total transaction of $1,383,750.00. Following the transaction, the director owned 486,732 shares of the company’s stock, valued at approximately $26,940,616.20. The trade was a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Megan Faust sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $46.92, for a total value of $46,920.00. Following the transaction, the chief financial officer directly owned 133,105 shares in the company, valued at $6,245,286.60. This trade represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 46,221 shares of company stock valued at $2,538,507. 26.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

Several large investors have recently modified their holdings of the business. Signaturefd LLC increased its position in shares of Amkor Technology by 7.3% during the 3rd quarter. Signaturefd LLC now owns 5,714 shares of the semiconductor company’s stock worth $299,000 after purchasing an additional 390 shares during the last quarter. Sowell Financial Services LLC raised its holdings in Amkor Technology by 19.2% in the 3rd quarter. Sowell Financial Services LLC now owns 33,703 shares of the semiconductor company’s stock valued at $1,765,000 after buying an additional 5,417 shares during the period. Wedbush Securities Inc. raised its holdings in Amkor Technology by 6.7% in the 3rd quarter. Wedbush Securities Inc. now owns 4,395 shares of the semiconductor company’s stock valued at $230,000 after buying an additional 275 shares during the period. Yousif Capital Management LLC lifted its position in Amkor Technology by 1.6% in the third quarter. Yousif Capital Management LLC now owns 32,062 shares of the semiconductor company’s stock valued at $1,679,000 after buying an additional 498 shares during the last quarter. Finally, Curry Webb Wealth Management LLC acquired a new position in Amkor Technology in the third quarter valued at about $39,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The company helps semiconductor manufacturers and electronics companies assemble, package and test integrated circuits before they are incorporated into finished electronic products.

Amkor’s services include wafer bumping, wafer-level packaging, flip-chip packaging, system-in-package solutions, fan-out packaging, leadframe and laminate-based packaging, and semiconductor testing. Its products and services support applications including mobile and consumer electronics, communications, automotive, computing, industrial equipment, and memory devices.

Founded in 1968, Amkor has grown into a global semiconductor supply-chain partner with manufacturing and testing operations across regions including Asia, Europe and the United States.