Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Should You Sell?

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped down prior to trading on Monday . The stock had previously closed at $60.54, but opened at $55.91. Chipmos Technologies shares last traded at $56.3250, with a volume of 10,157 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IMOS. Wall Street Zen lowered Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Friday, April 10th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Chipmos Technologies has an average rating of “Hold”.

Chipmos Technologies Price Performance

The firm has a market capitalization of $2.04 billion, a P/E ratio of 78.65 and a beta of 1.31. 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 business’s 50-day simple moving average is $55.83 and its 200 day simple moving average is $43.08.

Chipmos Technologies Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Shareholders of record on Monday, June 29th will be given a $0.7826 dividend. The ex-dividend date is Monday, June 29th. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. This represents a yield of 135.0%. Chipmos Technologies’s dividend payout ratio is presently 86.49%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in Chipmos Technologies by 51.4% during the 2nd quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after buying an additional 12,759 shares during the period. Quadrant Capital Group LLC purchased a new position in shares of Chipmos Technologies in the third quarter valued at about $219,000. XY Capital Ltd bought a new position in shares of Chipmos Technologies during the fourth quarter valued at about $314,000. RBF Capital LLC bought a new position in shares of Chipmos Technologies during the fourth quarter valued at about $266,000. Finally, Delphi Management Inc. MA purchased a new stake in shares of Chipmos Technologies during the first quarter worth about $254,000. 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.