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

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $57.24, but opened at $54.60. Chipmos Technologies shares last traded at $53.6210, with a volume of 4,900 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IMOS. Wall Street Zen downgraded Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Chipmos Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Chipmos Technologies has an average rating of “Hold”.

Chipmos Technologies Price Performance

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 stock has a market cap of $1.88 billion, a P/E ratio of 26.05 and a beta of 1.35. The firm has a 50 day moving average price of $60.57 and a 200 day moving average price of $49.89.

Chipmos Technologies (NASDAQ:IMOS) last announced its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. The company had revenue of $231.81 million during the quarter, compared to the consensus estimate of $236.95 million. Chipmos Technologies had a return on equity of 9.25% and a net margin of 8.30%.The firm’s revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.51) EPS.

Chipmos Technologies Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, July 24th. Shareholders of record on Monday, June 29th were given a $0.7826 dividend. The ex-dividend date was Monday, June 29th. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. This represents a dividend yield of 134.0%. Chipmos Technologies’s dividend payout ratio (DPR) is currently 37.25%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. XY Capital Ltd bought a new stake in Chipmos Technologies during the fourth quarter valued at about $314,000. Ballentine Partners LLC boosted its stake in shares of Chipmos Technologies by 5.0% in the fourth quarter. Ballentine Partners LLC now owns 21,521 shares of the semiconductor company’s stock worth $638,000 after acquiring an additional 1,028 shares during the period. Farther Finance Advisors LLC grew its position in shares of Chipmos Technologies by 16,828.6% during the fourth 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. Dimensional Fund Advisors LP raised its stake in Chipmos Technologies by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock valued at $3,301,000 after purchasing an additional 335 shares during the period. Finally, Smartleaf Asset Management LLC bought a new stake in Chipmos Technologies during the 4th quarter valued at approximately $54,000. 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.