Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $66.00, but opened at $62.05. Chipmos Technologies shares last traded at $63.2250, with a volume of 13,689 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IMOS shares. Weiss Ratings restated a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Wednesday, July 8th. Wall Street Zen downgraded 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, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Chipmos Technologies Stock Down 5.2%

The stock has a 50 day moving average of $62.12 and a 200-day moving average of $48.11. The firm has a market capitalization of $2.11 billion, a P/E ratio of 81.33 and a beta of 1.33. 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 (NASDAQ:IMOS) last issued its earnings results on Tuesday, May 12th. The semiconductor company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). The business had revenue of $217.06 million for the quarter, compared to the consensus estimate of $214.39 million. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.Chipmos Technologies’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS.

Chipmos Technologies Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, July 24th. Investors of record on Monday, June 29th will be paid a dividend of $0.7826 per share. This represents a dividend yield of 134.0%. 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 dividend payout ratio is currently 86.49%.

Institutional Investors Weigh In On Chipmos Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of IMOS. NewEdge Advisors LLC lifted its position 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 worth $29,000 after acquiring an additional 494 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Chipmos Technologies by 16,828.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 1,178 shares in the last quarter. Allworth Financial LP grew its position 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 in the last quarter. Smartleaf Asset Management LLC bought a new stake in shares of Chipmos Technologies during the 4th quarter valued at $54,000. Finally, GAMMA Investing LLC raised its stake in shares of Chipmos Technologies by 14.3% during the 4th quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 410 shares during the period. Institutional investors own 7.39% of the company’s stock.

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.