Chipmos Technologies (NASDAQ:IMOS) Stock Price Up 6% – Here’s Why

Chipmos Technologies (NASDAQ:IMOS)’s share price was up 6% during trading on Thursday . The company traded as high as $73.27 and last traded at $72.76. 34,862 shares were traded during mid-day trading, a decline of 56% from the average session volume of 78,576 shares. The stock had previously closed at $68.64.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IMOS shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Wednesday, July 8th. Wall Street Zen cut 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, According to MarketBeat, the stock has an average rating of “Hold”.

Chipmos Technologies Stock Performance

The stock’s 50-day moving average price is $61.06 and its 200 day moving average price is $46.62. The firm has a market cap of $2.55 billion, a P/E ratio of 98.42 and a beta of 1.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08.

Chipmos Technologies (NASDAQ:IMOS) last released 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). 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 the consensus estimate of $214.39 million. During the same period last year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis.

Chipmos Technologies Increases Dividend

The business also recently declared 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 represents a yield of 134.0%. 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. Chipmos Technologies’s payout ratio is currently 102.70%.

Institutional Investors Weigh In On Chipmos Technologies

Several large investors have recently made changes to their positions in IMOS. Dimensional Fund Advisors LP grew its position in shares of Chipmos Technologies by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock valued at $3,301,000 after acquiring an additional 335 shares during the period. GAMMA Investing LLC lifted its stake in Chipmos Technologies by 14.3% in 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. NewEdge Advisors LLC lifted 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 valued at $29,000 after purchasing an additional 494 shares during the last quarter. Allworth Financial LP grew its holdings in Chipmos Technologies by 74.7% during the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 587 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Chipmos Technologies by 3.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock worth $829,000 after purchasing an additional 830 shares during the period. 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.