Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Here’s Why

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped down before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

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

Chipmos Technologies Trading Down 3.9%

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 firm has a 50-day moving average of $55.12 and a 200 day moving average of $42.64. The company has a market cap of $2.21 billion, a P/E ratio of 85.44 and a beta of 1.32.

Chipmos Technologies Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Stockholders of record on Monday, June 29th will be given a dividend of $0.7826 per share. This is a positive change from Chipmos Technologies’s previous annual dividend of $0.61. The ex-dividend date of this dividend is Monday, June 29th. This represents a dividend yield of 142.0%. Chipmos Technologies’s payout ratio is 86.49%.

Institutional Trading of Chipmos Technologies

Hedge funds have recently modified their holdings of the stock. XY Capital Ltd acquired a new stake in Chipmos Technologies in the fourth quarter worth $314,000. Goldman Sachs Group Inc. increased its stake in Chipmos Technologies by 3.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock valued at $829,000 after purchasing an additional 830 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Chipmos Technologies by 3.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 73,380 shares of the semiconductor company’s stock valued at $2,175,000 after purchasing an additional 2,240 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Chipmos Technologies by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 91,919 shares of the semiconductor company’s stock valued at $2,727,000 after purchasing an additional 356 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Chipmos Technologies by 16,828.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 1,178 shares in the last quarter. Institutional investors 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.