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

Chipmos Technologies (NASDAQ:IMOS) shares gapped up prior to trading on Wednesday . The stock had previously closed at $64.47, but opened at $68.67. Chipmos Technologies shares last traded at $68.7540, with a volume of 19,764 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IMOS shares. Wall Street Zen lowered shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Chipmos Technologies presently has a consensus rating of “Hold”.

Chipmos Technologies Trading Up 3.5%

The stock has a fifty day moving average of $60.80 and a 200-day moving average of $46.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.08 and a current ratio of 2.40. The company has a market cap of $2.35 billion, a PE ratio of 90.84 and a beta of 1.33.

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

Chipmos Technologies Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, July 24th. Stockholders of record on Monday, June 29th will be issued a $0.7826 dividend. The ex-dividend date is Monday, June 29th. This is a boost from Chipmos Technologies’s previous annual dividend of $0.61. This represents a dividend yield of 134.0%. Chipmos Technologies’s dividend payout ratio (DPR) is currently 102.70%.

Institutional Investors Weigh In On Chipmos Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in Chipmos Technologies by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock worth $3,301,000 after acquiring an additional 335 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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. NewEdge Advisors LLC raised its stake in shares of Chipmos Technologies by 163.0% during the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 494 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Chipmos Technologies by 74.7% in the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 587 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of 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 during the period. 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.