Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Time to Buy?

Chipmos Technologies (NASDAQ:IMOS) shares gapped up before the market opened on Monday . The stock had previously closed at $63.93, but opened at $68.61. Chipmos Technologies shares last traded at $72.0250, with a volume of 51,849 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IMOS shares. Wall Street Zen downgraded Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research report 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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Chipmos Technologies Stock Up 13.0%

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 stock has a market cap of $2.55 billion, a P/E ratio of 98.57 and a beta of 1.33. The stock’s fifty day moving average price is $57.40 and its 200 day moving average price is $44.28.

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

Chipmos Technologies Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 29th. This represents a dividend yield of 134.0%. This is a positive change from Chipmos Technologies’s previous annual dividend of $0.61. Chipmos Technologies’s payout ratio is 102.70%.

Institutional Trading of Chipmos Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP raised its position in 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 purchasing an additional 587 shares during the period. NewEdge Advisors LLC boosted its position in 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 buying an additional 494 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Chipmos Technologies by 16,828.6% during 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 during the last quarter. Smartleaf Asset Management LLC bought a new stake in shares of Chipmos Technologies in the 4th quarter valued at about $54,000. Finally, GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 410 shares during the last quarter. Hedge funds and other 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.