Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Here’s Why

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $64.47, but opened at $68.67. Chipmos Technologies shares last traded at $68.7540, with a volume of 19,764 shares trading hands.

Analysts Set New Price Targets

IMOS has been the topic of several analyst reports. Wall Street Zen downgraded shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Chipmos Technologies has an average rating of “Hold”.

Chipmos Technologies Trading Up 3.6%

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 stock’s 50-day moving average is $61.29 and its two-hundred day moving average is $46.91. The company has a market cap of $2.51 billion, a P/E ratio of 96.78 and a beta of 1.33.

Chipmos Technologies (NASDAQ:IMOS) last posted its earnings results on Tuesday, May 12th. The semiconductor company reported $0.45 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 the consensus estimate of $214.39 million. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS.

Chipmos Technologies Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Investors of record on Monday, June 29th will be given a dividend of $0.7826 per share. This represents a yield of 134.0%. This is a boost from Chipmos Technologies’s previous annual dividend of $0.61. The ex-dividend date is Monday, June 29th. Chipmos Technologies’s dividend payout ratio (DPR) is currently 102.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP increased its position 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 valued at $26,000 after purchasing an additional 587 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Chipmos Technologies by 163.0% in the first 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. Farther Finance Advisors LLC grew its position in Chipmos Technologies by 16,828.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 1,178 shares during the period. Smartleaf Asset Management LLC bought a new stake in Chipmos Technologies during the fourth quarter valued at approximately $54,000. Finally, GAMMA Investing LLC increased its holdings in Chipmos Technologies by 14.3% during the fourth quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock valued at $97,000 after buying an additional 410 shares during the last quarter. 7.39% of the stock is 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.