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

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $54.94, but opened at $50.10. Chipmos Technologies shares last traded at $49.4510, with a volume of 26,538 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IMOS. Wall Street Zen lowered Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Chipmos Technologies in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Chipmos Technologies Stock Down 7.9%

The company has a market capitalization of $1.61 billion, a PE ratio of 62.22 and a beta of 1.33. The company has a quick ratio of 2.08, a current ratio of 2.40 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $62.24 and a two-hundred day moving average of $48.65.

Chipmos Technologies (NASDAQ:IMOS) last posted 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 business had revenue of $217.06 million during the quarter, compared to analysts’ expectations of $214.39 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Chipmos Technologies’s revenue for the quarter was up 25.4% compared to the same quarter last year.

Chipmos Technologies Increases Dividend

The firm also recently disclosed 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 dividend yield of 134.0%. The ex-dividend date of this dividend 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 is 86.49%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its stake in 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 buying an additional 494 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Chipmos Technologies by 16,828.6% in the 4th 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. Allworth Financial LP lifted its holdings in shares of 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 acquiring an additional 587 shares during the last quarter. Smartleaf Asset Management LLC acquired a new position in shares of Chipmos Technologies in the 4th quarter worth approximately $54,000. Finally, Foster Group Inc. purchased a new position in shares of Chipmos Technologies during the 2nd quarter worth approximately $339,000. Institutional investors and hedge funds 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.