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

Shares of Chipmos Technologies (NASDAQ:IMOS) gapped up prior to trading on Tuesday . The stock had previously closed at $48.32, but opened at $53.00. Chipmos Technologies shares last traded at $52.0710, with a volume of 13,152 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IMOS. Weiss Ratings restated a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Wednesday, July 8th. Wall Street Zen downgraded Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The company has a market cap of $1.80 billion, a price-to-earnings ratio of 69.41 and a beta of 1.34. The company has a fifty day simple moving average of $61.91 and a two-hundred day simple moving average of $49.05. The company has a quick ratio of 2.08, a current ratio of 2.40 and a debt-to-equity ratio of 0.44.

Chipmos Technologies (NASDAQ:IMOS) last posted its earnings results on Tuesday, May 12th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). The company had revenue of $217.06 million during the quarter, compared to analysts’ expectations of $214.39 million. Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. Chipmos Technologies’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS.

Chipmos Technologies Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, July 24th. Investors of record on Monday, June 29th were paid a dividend of $0.7826 per share. The ex-dividend date of this dividend 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 is 86.49%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Foster Group Inc. acquired a new stake in Chipmos Technologies during the second quarter worth approximately $339,000. NewEdge Advisors LLC boosted its stake in 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 buying an additional 494 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Chipmos Technologies by 0.4% in 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. Kathmere Capital Management LLC purchased a new position in shares of Chipmos Technologies during the 1st quarter worth about $204,000. Finally, Delphi Management Inc. MA purchased a new position in shares of Chipmos Technologies during the 1st quarter worth about $254,000. Institutional investors and hedge funds own 7.39% of the company’s stock.

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.