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

Key Points

• Amkor Technology saw unusually heavy options activity, with traders buying 12,436 call options on Friday, about 48% above its typical volume.
• The stock jumped 8.9% to $82.90, near its 52-week high, after trading above both its 50-day and 200-day moving averages.
• The company recently beat earnings expectations, reporting $0.33 EPS versus $0.23 expected and revenue of $1.68 billion, while also announcing a quarterly dividend of $0.0835 per share.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) saw some unusual options trading on Friday. Stock investors purchased 12,436 call options on the stock. This represents an increase of 48% compared to the typical volume of 8,425 call options.

Amkor Technology Trading Up 8.9%

Amkor Technology stock traded up $6.75 during midday trading on Friday, reaching $82.90. 5,275,001 shares of the stock traded hands, compared to its average volume of 4,683,903. The company has a 50-day simple moving average of $67.24 and a two-hundred day simple moving average of $53.20. Amkor Technology has a 12-month low of $19.79 and a 12-month high of $83.17. The firm has a market cap of $20.55 billion, a PE ratio of 47.36 and a beta of 2.25. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period last year, the business posted $0.09 EPS. Amkor Technology's revenue for the quarter was up 27.5% on a year-over-year basis. Research analysts expect that Amkor Technology will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.0835 per share. This represents a $0.33 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's dividend payout ratio (DPR) is 18.86%.

Insider Buying and Selling

In other Amkor Technology news, Director Douglas A. Alexander sold 5,000 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, the director directly owned 29,109 shares in the company, valued at $2,229,167.22. This represents a 14.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark N. Rogers sold 5,000 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $71.63, for a total value of $358,150.00. Following the completion of the sale, the executive vice president owned 38,904 shares of the company's stock, valued at approximately $2,786,693.52. The trade was a 11.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 114,000 shares of company stock worth $8,329,250 over the last quarter. Corporate insiders own 26.40% of the company's stock.

Hedge Funds Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. boosted its stake in shares of Amkor Technology by 72.1% in the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock valued at $26,000 after buying an additional 391 shares during the period. IFP Advisors Inc boosted its stake in shares of Amkor Technology by 91.2% in the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after buying an additional 447 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Amkor Technology by 180.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company's stock valued at $28,000 after buying an additional 440 shares during the period. Root Financial Partners LLC boosted its stake in shares of Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after buying an additional 262 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Amkor Technology by 61.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock valued at $40,000 after buying an additional 854 shares during the period. Hedge funds and other institutional investors own 42.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMKR. B. Riley Financial increased their price target on Amkor Technology from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Melius Research upgraded Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a report on Monday, April 6th. Zacks Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Wall Street Zen cut Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Finally, Needham & Company LLC increased their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $67.38.

About Amkor Technology

Amkor Technology, Inc NASDAQ: AMKR is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.

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