Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Should You Buy?

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $55.12, but opened at $60.40. Chipmos Technologies shares last traded at $62.1030, with a volume of 20,637 shares.

Analysts Set New Price Targets

Several research firms recently commented on IMOS. Wall Street Zen lowered Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reissued 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, the company has a consensus rating of “Hold”.

Chipmos Technologies Stock Up 12.7%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.08 and a current ratio of 2.40. The firm has a fifty day simple moving average of $49.96 and a 200-day simple moving average of $40.11. The company has a market capitalization of $2.19 billion, a PE ratio of 84.55 and a beta of 1.32.

Chipmos Technologies Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Shareholders of record on Monday, June 29th will be issued a dividend of $0.7826 per share. The ex-dividend date is Monday, June 29th. This represents a yield of 142.0%. This is a boost from Chipmos Technologies’s previous annual dividend of $0.61. Chipmos Technologies’s dividend payout ratio (DPR) is presently 86.49%.

Institutional Investors Weigh In On Chipmos Technologies

A number of institutional investors have recently made changes to their positions in IMOS. Rhumbline Advisers increased its holdings in shares of Chipmos Technologies by 51.4% in the 2nd quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after acquiring an additional 12,759 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Chipmos Technologies by 71.8% in the 2nd quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 4,952 shares during the last quarter. ABC Arbitrage SA bought a new stake in shares of Chipmos Technologies in the 3rd quarter valued at approximately $290,000. Parallel Advisors LLC increased its holdings in shares of Chipmos Technologies by 44.4% in the 3rd quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 1,890 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new stake in shares of Chipmos Technologies in the 3rd quarter valued at approximately $219,000. 7.39% of the stock is currently owned by institutional investors.

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.