Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – What’s Next?

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $60.54, but opened at $55.91. Chipmos Technologies shares last traded at $56.3250, with a volume of 10,157 shares trading hands.

Analyst Upgrades and Downgrades

IMOS has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a report on Friday, April 10th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08. The firm has a fifty day simple moving average of $56.35 and a 200 day simple moving average of $43.53. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 87.41 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. Stockholders of record on Monday, June 29th will be given a dividend of $0.7826 per share. This is a positive change from Chipmos Technologies’s previous annual dividend of $0.61. The ex-dividend date is Monday, June 29th. This represents a dividend yield of 134.0%. Chipmos Technologies’s payout ratio is 102.70%.

Institutional Investors Weigh In On Chipmos Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in Chipmos Technologies by 51.4% during the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock worth $681,000 after acquiring an additional 12,759 shares during the period. Bank of America Corp DE grew its position in shares of Chipmos Technologies by 71.8% in the second quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 4,952 shares during the period. Parallel Advisors LLC grew its position in shares of Chipmos Technologies by 44.4% in the third quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 1,890 shares during the period. Quadrant Capital Group LLC purchased a new stake in shares of Chipmos Technologies during the third quarter worth about $219,000. Finally, Allworth Financial LP increased its stake in shares of Chipmos Technologies by 74.7% during the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 587 shares in the last quarter. Hedge funds and other institutional investors 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.