Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Time to Buy?

Chipmos Technologies (NASDAQ:IMOS) gapped up prior to trading on Thursday . The stock had previously closed at $59.00, but opened at $64.19. Chipmos Technologies shares last traded at $63.45, with a volume of 16,413 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Friday, April 10th. Wall Street Zen lowered Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Chipmos Technologies Stock Up 9.7%

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 business’s 50-day simple moving average is $52.41 and its 200-day simple moving average is $41.28. The company has a market capitalization of $2.28 billion, a PE ratio of 88.10 and a beta of 1.32.

Chipmos Technologies Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, July 24th. Investors of record on Monday, June 29th will be issued a dividend of $0.7826 per share. This represents a dividend yield of 142.0%. This is a boost from Chipmos Technologies’s previous annual dividend of $0.61. The ex-dividend date of this dividend is Monday, June 29th. Chipmos Technologies’s dividend payout ratio is 102.70%.

Institutional Investors Weigh In On Chipmos Technologies

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in Chipmos Technologies by 74.7% during the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 587 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Chipmos Technologies by 163.0% in 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 last quarter. Farther Finance Advisors LLC boosted its stake 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 worth $35,000 after buying an additional 1,178 shares during the last quarter. Smartleaf Asset Management LLC acquired a new stake in Chipmos Technologies during the fourth quarter worth about $54,000. Finally, GAMMA Investing LLC grew its holdings in Chipmos Technologies by 14.3% during the fourth 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 period. 7.39% of the stock is owned by hedge funds and other institutional investors.

Chipmos Technologies Company Profile

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.