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

Chipmos Technologies (NASDAQ:IMOS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $54.94, but opened at $50.10. Chipmos Technologies shares last traded at $49.4510, with a volume of 26,538 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IMOS. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Wednesday, July 8th. Wall Street Zen cut shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The stock has a market cap of $1.76 billion, a PE ratio of 67.81 and a beta of 1.33. 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 firm has a 50 day moving average price of $62.28 and a 200 day moving average price of $48.45.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings data 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). Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. The firm had revenue of $217.06 million during the quarter, compared to the consensus estimate of $214.39 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year.

Chipmos Technologies Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, June 29th were given a $0.7826 dividend. This represents a dividend yield of 134.0%. The ex-dividend date of this dividend was Monday, June 29th. This is a boost from Chipmos Technologies’s previous annual dividend of $0.61. Chipmos Technologies’s dividend payout ratio is currently 86.49%.

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP increased 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 valued at $26,000 after buying an additional 587 shares during the period. NewEdge Advisors LLC lifted its holdings in Chipmos Technologies by 163.0% during the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock worth $29,000 after buying an additional 494 shares during the period. Farther Finance Advisors LLC boosted its position in 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 in the last quarter. Smartleaf Asset Management LLC bought a new stake in Chipmos Technologies during the 4th quarter valued at $54,000. Finally, GAMMA Investing LLC raised its position in shares of Chipmos Technologies by 14.3% in 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 in the last quarter. 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.