Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up After Dividend Announcement

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped up prior to trading on Wednesday following a dividend announcement from the company. The stock had previously closed at $55.23, but opened at $58.04. Chipmos Technologies shares last traded at $56.78, with a volume of 33,324 shares traded.

The newly announced dividend which will be paid on Friday, July 24th. Shareholders of record on Monday, June 29th will be paid a $0.7826 dividend. This represents a yield of 142.0%. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. The ex-dividend date is Monday, June 29th. Chipmos Technologies’s dividend payout ratio is presently 86.49%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IMOS shares. 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 note on Friday, April 10th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Chipmos Technologies presently has an average rating of “Hold”.

Chipmos Technologies Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08. The stock has a market capitalization of $1.96 billion, a P/E ratio of 76.33 and a beta of 1.16. The stock’s fifty day moving average is $44.81 and its 200-day moving average is $37.37.

Chipmos Technologies (NASDAQ:IMOS) last posted its earnings results on Tuesday, February 24th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.12. The company had revenue of $207.78 million for the quarter, compared to analyst estimates of $6.50 billion. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The business’s revenue was up 26.2% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share.

Institutional Investors Weigh In On Chipmos Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in shares of Chipmos Technologies by 16,828.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 1,178 shares during the period. Allworth Financial LP grew its stake in Chipmos Technologies by 74.7% in the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 587 shares during the last quarter. Smartleaf Asset Management LLC acquired a new position in Chipmos Technologies in the 4th quarter valued at $54,000. Westside Investment Management Inc. raised its holdings in Chipmos Technologies by 125.5% in the 3rd quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 1,204 shares during the period. Finally, GAMMA Investing LLC lifted 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 worth $97,000 after acquiring an additional 410 shares during the last quarter. 7.39% of the stock is currently owned by institutional investors and hedge funds.

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.