Amkor Technology Experiences Significant Options Trading Activity (NASDAQ:AMKR)

On Tuesday, Amkor Technology, Inc. (NASDAQ:AMKR) experienced an unusual surge in options trading. Traders bought 41,439 put options, marking a remarkable increase of 1,079% compared to the average daily volume of 3,515 put options.

Wall Street Analysts Forecast Growth

Several research analysts have provided insights on Amkor Technology's stock performance. On February 11th, Morgan Stanley lowered its target price for Amkor from $26.00 to $24.00, maintaining an “equal weight” rating. B. Riley adjusted their target price from $38.00 to $32.00 while still giving the company a “buy” rating. Melius Research changed their stance from a “strong-buy” to a “hold” rating on January 6th. Additionally, JPMorgan Chase & Co. decreased their price target from $42.00 to $30.00 and assigned an “overweight” rating on February 11th. Needham & Company LLC reaffirmed a “buy” rating with a price objective of $34.00 on the same date. Currently, six analysts rate the stock as a hold, whereas five analysts recommend it as a buy. The consensus rating stands at “Hold” with an average target price of $31.50, according to MarketBeat.com.

Insider Trading Activity at Amkor Technology

In related news, major shareholder Agnes C. Kim sold 869,565 shares of Amkor Technology on February 24th, with the shares sold averaging $21.85 each, resulting in a total transaction of approximately $18.99 million. Following this sale, Kim owns 10,020,870 shares valued at around $218.96 million, reflecting a 7.98% reduction in ownership. This transaction was disclosed in filings with the Securities and Exchange Commission. Furthermore, EVP Kevin Engel sold 5,489 shares on February 25th at an average price of $21.69, amounting to $119,056.41. Engel now holds 1,388 shares valued at approximately $30,105.72, indicating a significant decrease of 79.82% in his holdings. Company insiders collectively own 31.40% of Amkor’s stock.

Institutional Investor Activity

Numerous institutional investors and hedge funds have adjusted their positions in Amkor Technology recently. Principal Financial Group Inc. increased its stake by 212.6% in the third quarter, now holding 1,361,084 shares valued at approximately $41.65 million after adding 925,644 shares. Capital Performance Advisors LLP acquired a new stake valued at $39,000 during the same period. State of New Jersey Common Pension Fund D grew its ownership by 5.3%, adding 3,008 shares for a total of 60,181 shares valued at $1.84 million. Additionally, Sumitomo Mitsui Trust Group Inc. raised its shares by 16.3%, owning 8,505 shares worth $260,000. Victory Capital Management Inc. expanded its investment by 68.0%, acquiring 86,148 additional shares for a total of 212,809 shares valued at $6.51 million. Institutional investors now control 42.76% of Amkor Technology's stock.

Performance Overview of Amkor Technology

Amkor Technology's stock opened at $19.23 on Wednesday. The company has a fifty-day moving average of $23.72 and a 200-day moving average of $26.77. With a market capitalization of $4.74 billion, it has a price-to-earnings ratio of 13.45 and a beta of 1.88. The stock's 52-week range is between $19.01 and $44.86. It holds a debt-to-equity ratio of 0.22, a quick ratio of 1.90, and a current ratio of 2.11.

Amkor Technology reported its latest earnings results on February 10th, showing an EPS of $0.43 for the quarter, surpassing the consensus estimate of $0.37 by $0.06. The company's net margin stands at 5.60%, and the return on equity is 8.59%. Analysts predict an EPS of 1.47 for the current year.

Dividend Information for Investors

Recently, Amkor Technology announced a quarterly dividend, scheduled to be paid on April 2nd. Stockholders on record by March 13th will receive a dividend of $0.0827 each. This translates to an annualized dividend of $0.33, yielding approximately 1.72%. The ex-dividend date is also March 13th. The company's dividend payout ratio (DPR) is currently 23.08%.

Company Overview

Amkor Technology, Inc. is a provider of outsourced semiconductor packaging and testing services, operating in regions such as the United States, Japan, Europe, the Middle East, Africa, and Asia Pacific. The services offered include semiconductor wafer bumping, probing, back-grinding, package design, and comprehensive testing and logistics solutions for various electronic devices, including smartphones and automotive applications.

Amkor, Technology, Trading, Earnings, Stock