Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Time to Sell?

Chipmos Technologies (NASDAQ:IMOS) gapped down prior to trading on Tuesday . The stock had previously closed at $70.29, but opened at $63.30. Chipmos Technologies shares last traded at $66.0240, with a volume of 21,359 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IMOS shares. Wall Street Zen downgraded shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Chipmos Technologies currently has an average rating of “Hold”.

Chipmos Technologies Stock Down 6.9%

The company has a current ratio of 2.40, a quick ratio of 2.08 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 88.99 and a beta of 1.31. The firm’s 50 day simple moving average is $54.20 and its 200-day simple moving average is $42.14.

Chipmos Technologies Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, July 24th. Investors of record on Monday, June 29th will be issued a dividend of $0.7826 per share. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. This represents a yield of 142.0%. The ex-dividend date of this dividend is Monday, June 29th. Chipmos Technologies’s dividend payout ratio is currently 86.49%.

Institutional Investors Weigh In On Chipmos Technologies

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Chipmos Technologies by 74.7% during the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 587 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Chipmos Technologies by 163.0% in the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 494 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Chipmos Technologies by 16,828.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 1,178 shares in the last quarter. Smartleaf Asset Management LLC acquired a new position in Chipmos Technologies during the fourth quarter worth $54,000. Finally, GAMMA Investing LLC grew its holdings in Chipmos Technologies by 14.3% during the fourth quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 410 shares during the period. Institutional investors and hedge funds own 7.39% of the company’s stock.

About Chipmos Technologies

ChipMOS Technologies Inc is a Taiwan‐based provider of outsourced semiconductor assembly, testing and packaging services. The company offers a comprehensive range of back‐end solutions including wafer probing, assembly, surface mount and final test services for memory chips, microcontrollers, system‐on‐chips and other integrated circuits. ChipMOS serves customers in the consumer electronics, communications, industrial and automotive markets by delivering reliable testing and packaging support to semiconductor fabless companies and foundries.

Founded in 1997 and headquartered in Hsinchu, Taiwan, ChipMOS operates multiple production facilities across Asia, including sites in Taoyuan (Taiwan), Guangdong Province (China) and Singapore.