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

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $48.32, but opened at $53.00. Chipmos Technologies shares last traded at $52.0710, with a volume of 13,152 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IMOS shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Chipmos Technologies in a report on Wednesday, July 8th. Wall Street Zen cut shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08. The stock has a market cap of $1.82 billion, a PE ratio of 70.39 and a beta of 1.33. The stock has a 50-day simple moving average of $62.08 and a 200-day simple moving average of $48.87.

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

Chipmos Technologies Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, July 24th. Investors of record on Monday, June 29th were issued a dividend of $0.7826 per share. This represents a dividend yield of 134.0%. The ex-dividend date was Monday, June 29th. This is a positive change from Chipmos Technologies’s previous annual dividend of $0.61. Chipmos Technologies’s dividend payout ratio (DPR) is presently 102.70%.

Institutional Trading of Chipmos Technologies

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in shares of Chipmos Technologies by 74.7% during the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 587 shares in the last quarter. NewEdge Advisors LLC grew 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 raised its holdings 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 valued at $35,000 after buying an additional 1,178 shares during the period. Smartleaf Asset Management LLC acquired a new position in Chipmos Technologies during the 4th quarter worth approximately $54,000. Finally, Parallel Advisors LLC lifted its position in Chipmos Technologies by 44.4% during the 3rd quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 1,890 shares in the last quarter. 7.39% of the stock is currently owned by institutional investors and hedge funds.

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.