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

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $70.29, but opened at $63.30. Chipmos Technologies shares last traded at $66.0240, with a volume of 21,359 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IMOS shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Friday, April 10th. Wall Street Zen downgraded shares of 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 company presently has an average rating of “Hold”.

Chipmos Technologies Stock Performance

The firm has a fifty day moving average of $54.20 and a 200-day moving average of $42.14. The company has a quick ratio of 2.08, a current ratio of 2.40 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 88.99 and a beta of 1.31.

Chipmos Technologies Increases Dividend

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

Institutional Investors Weigh In On Chipmos Technologies

Several institutional investors and hedge funds have recently made changes to their positions in IMOS. Rhumbline Advisers increased its holdings in Chipmos Technologies by 51.4% during the 2nd quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after acquiring an additional 12,759 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 in the last quarter. 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 last quarter. Quadrant Capital Group LLC purchased a new position in shares of Chipmos Technologies during the 3rd quarter worth approximately $219,000. Finally, Allworth Financial LP increased its stake in shares of 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 in the last quarter. 7.39% of the stock is currently 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.