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

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $63.93, but opened at $68.61. Chipmos Technologies shares last traded at $72.0250, with a volume of 51,849 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IMOS. Wall Street Zen cut Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed 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 currently has an average rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a market capitalization of $2.55 billion, a PE ratio of 98.57 and a beta of 1.33. The business’s 50-day moving average is $57.40 and its 200-day moving average is $44.28. 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 announced its quarterly earnings data 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). Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The business had revenue of $217.06 million during the quarter, compared to analysts’ expectations of $214.39 million. During the same quarter last year, the company posted $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 business also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Investors of record on Monday, June 29th will be given a dividend of $0.7826 per share. This is a boost from Chipmos Technologies’s previous annual dividend of $0.61. The ex-dividend date of this dividend is Monday, June 29th. This represents a yield of 134.0%. Chipmos Technologies’s dividend payout ratio is 102.70%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in Chipmos Technologies by 74.7% in the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 587 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Chipmos Technologies by 163.0% in 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. Farther Finance Advisors LLC boosted its stake in 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 worth $35,000 after purchasing an additional 1,178 shares in the last quarter. Smartleaf Asset Management LLC purchased a new stake in Chipmos Technologies during the 4th quarter valued at about $54,000. Finally, GAMMA Investing LLC grew its position in 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 last quarter. Hedge funds and other institutional investors own 7.39% of the company’s stock.

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.