Chipmos Technologies (NASDAQ:IMOS) Shares Down 8.6% – Here’s Why

Chipmos Technologies (NASDAQ:IMOS) was down 8.6% on Monday . The stock traded as low as $69.00 and last traded at $69.2610. Approximately 40,840 shares were traded during mid-day trading, a decline of 47% from the average session volume of 76,733 shares. The stock had previously closed at $75.79.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IMOS. Wall Street Zen lowered Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Wednesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Chipmos Technologies presently has an average rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a current ratio of 2.40, a quick ratio of 2.08 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $60.13 and its 200 day simple moving average is $45.80. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 95.61 and a beta of 1.33.

Chipmos Technologies (NASDAQ:IMOS) last issued its earnings results on Tuesday, May 12th. The semiconductor company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). The company had revenue of $217.06 million for the quarter, compared to analyst estimates of $214.39 million. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share.

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. The ex-dividend date is Monday, June 29th. This is a positive change from Chipmos Technologies’s previous annual dividend of $0.61. This represents a yield of 134.0%. Chipmos Technologies’s dividend payout ratio (DPR) is 102.70%.

Institutional Trading of Chipmos Technologies

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in shares of Chipmos Technologies by 74.7% in the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 587 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Chipmos Technologies by 163.0% during the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 494 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Chipmos Technologies by 16,828.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 1,178 shares during the last quarter. Smartleaf Asset Management LLC purchased a new stake in shares of Chipmos Technologies in the fourth quarter valued at about $54,000. Finally, GAMMA Investing LLC grew its holdings in shares of Chipmos Technologies by 14.3% in the fourth 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 period. 7.39% of the stock is currently owned by hedge funds and other 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.