Chipmos Technologies (NASDAQ:IMOS) Trading 8.7% Higher – Here’s Why

Chipmos Technologies (NASDAQ:IMOS) shot up 8.7% during mid-day trading on Tuesday . The stock traded as high as $62.60 and last traded at $63.3650. 11,744 shares were traded during mid-day trading, a decline of 84% from the average session volume of 72,723 shares. The stock had previously closed at $58.30.

Analysts Set New Price Targets

A number of research firms recently issued reports on IMOS. Weiss Ratings restated 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 research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating, According to MarketBeat, 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 quick ratio of 2.08 and a current ratio of 2.40. The business’s 50 day simple moving average is $56.01 and its 200-day simple moving average is $43.28. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 86.29 and a beta of 1.31.

Chipmos Technologies Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, July 24th. Stockholders of record on Monday, June 29th will be issued a dividend of $0.7826 per share. This represents a dividend yield of 134.0%. 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 presently 86.49%.

Hedge Funds Weigh In On Chipmos Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in IMOS. Dimensional Fund Advisors LP increased 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 buying an additional 335 shares during the period. GAMMA Investing LLC lifted its stake 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 during the period. NewEdge Advisors LLC lifted its stake in shares of Chipmos Technologies by 163.0% in the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 494 shares during the period. Allworth Financial LP boosted its holdings in shares of Chipmos Technologies by 74.7% in the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 587 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Chipmos Technologies by 3.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock valued at $829,000 after acquiring an additional 830 shares in 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.