Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Should You Buy?

Shares of Chipmos Technologies (NASDAQ:IMOS) gapped up before the market opened on Thursday . The stock had previously closed at $55.12, but opened at $60.40. Chipmos Technologies shares last traded at $62.1030, with a volume of 20,637 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Friday, April 10th. Wall Street Zen cut 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 has a consensus rating of “Hold”.

Chipmos Technologies Trading Up 12.7%

The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 84.55 and a beta of 1.32. 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 has a 50 day simple moving average of $49.96 and a 200-day simple moving average of $40.11.

Chipmos Technologies Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Stockholders of record on Monday, June 29th will be paid a $0.7826 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a dividend yield of 142.0%. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. Chipmos Technologies’s dividend payout ratio is presently 86.49%.

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. 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 valued at $29,000 after purchasing an additional 494 shares in the last quarter. Farther Finance Advisors LLC lifted 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 worth $35,000 after acquiring an additional 1,178 shares in the last quarter. Allworth Financial LP lifted 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 acquiring an additional 587 shares in the last quarter. Smartleaf Asset Management LLC acquired a new position in Chipmos Technologies during the 4th quarter worth approximately $54,000. Finally, GAMMA Investing LLC lifted its position in Chipmos Technologies by 14.3% during 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 owned by institutional investors and hedge funds.

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.