Chipmos Technologies (NASDAQ:IMOS) Shares Up 8.3% After Earnings Beat

Chipmos Technologies (NASDAQ:IMOS) shares were up 8.3% during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $58.88 and last traded at $57.4750. Approximately 31,746 shares were traded during trading, a decline of 62% from the average session volume of 83,531 shares. The stock had previously closed at $53.05.

The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.16. The company had revenue of $231.81 million for the quarter, compared to analysts’ expectations of $236.95 million. Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period last year, the company earned ($0.51) EPS.

Chipmos Technologies Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, July 24th. Investors of record on Monday, June 29th were given a dividend of $0.7826 per share. This represents a yield of 134.0%. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. The ex-dividend date was Monday, June 29th. Chipmos Technologies’s dividend payout ratio (DPR) is 86.49%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Chipmos Technologies

Several institutional investors have recently made changes to their positions in IMOS. Allworth Financial LP increased its holdings in shares of Chipmos Technologies by 74.7% during the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after buying an additional 587 shares during the last quarter. NewEdge Advisors LLC grew 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 acquiring an additional 494 shares during the period. Farther Finance Advisors LLC grew its position in 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 acquiring an additional 1,178 shares during the period. Smartleaf Asset Management LLC acquired a new stake in Chipmos Technologies during the fourth quarter worth about $54,000. Finally, Parallel Advisors LLC increased its stake in Chipmos Technologies by 44.4% during the third 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 during the last quarter. 7.39% of the stock is owned by hedge funds and other institutional investors.

Chipmos Technologies Trading Up 8.3%

The business has a fifty day moving average price of $61.00 and a 200 day moving average price of $49.25. The company has a market capitalization of $2.02 billion, a PE ratio of 78.20 and a beta of 1.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.08 and a current ratio of 2.40.

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.