Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Still a Buy?

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $55.12, but opened at $60.40. Chipmos Technologies shares last traded at $62.1030, with a volume of 20,637 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IMOS shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Friday, April 10th. 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. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Chipmos Technologies Stock Down 2.8%

The company has a market capitalization of $2.18 billion, a PE ratio of 84.29 and a beta of 1.32. The firm’s 50-day simple moving average is $51.05 and its 200 day simple moving average is $40.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.08 and a current ratio of 2.40.

Chipmos Technologies Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, July 24th. Shareholders of record on Monday, June 29th will be given a dividend of $0.7826 per share. This represents a dividend yield of 142.0%. The ex-dividend date is Monday, June 29th. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. Chipmos Technologies’s payout ratio is presently 86.49%.

Institutional Investors Weigh In On Chipmos Technologies

Several institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its position in shares of Chipmos Technologies by 163.0% during the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 494 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Chipmos Technologies by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock worth $3,301,000 after purchasing an additional 335 shares in the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Chipmos Technologies during the 1st quarter worth $204,000. Delphi Management Inc. MA purchased a new stake in shares of Chipmos Technologies during the 1st quarter worth $254,000. Finally, RBF Capital LLC purchased a new stake in shares of Chipmos Technologies during the 4th quarter worth $266,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

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.