Chipmos Technologies (NASDAQ:IMOS) Trading Down 8.6% – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS)’s stock price dropped 8.6% during trading on Monday . The stock traded as low as $69.00 and last traded at $69.2610. 40,840 shares were traded during trading, a decline of 47% from the average session volume of 76,733 shares. The stock had previously closed at $75.79.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IMOS shares. Wall Street Zen lowered 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 note on Wednesday, July 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a quick ratio of 2.08, a current ratio of 2.40 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $60.80 and a 200-day simple moving average of $46.34. The company has a market capitalization of $2.27 billion, a P/E ratio of 87.71 and a beta of 1.33.

Chipmos Technologies (NASDAQ:IMOS) last posted its earnings results on Tuesday, May 12th. The semiconductor company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). The firm had revenue of $217.06 million during the quarter, compared to the consensus estimate of $214.39 million. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS.

Chipmos Technologies Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Shareholders of record on Monday, June 29th will be paid a dividend of $0.7826 per share. This is a positive change from Chipmos Technologies’s previous annual dividend of $0.61. This represents a yield of 134.0%. The ex-dividend date of this dividend is Monday, June 29th. Chipmos Technologies’s payout ratio is currently 102.70%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Chipmos Technologies by 74.7% in the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 587 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Chipmos Technologies by 163.0% during the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 494 shares in the last quarter. Farther Finance Advisors LLC raised its position in Chipmos Technologies by 16,828.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 1,178 shares during the last quarter. Smartleaf Asset Management LLC bought a new position in Chipmos Technologies in the 4th quarter valued at $54,000. Finally, GAMMA Investing LLC raised its position in Chipmos Technologies by 14.3% in the 4th quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 410 shares during the last quarter. Institutional investors own 7.39% of the company’s stock.

Chipmos Technologies Company Profile

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.