Chipmos Technologies (NASDAQ:IMOS) Stock Price Up 8.3% After Strong Earnings

Chipmos Technologies (NASDAQ:IMOS)’s stock price was up 8.3% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $58.88 and last traded at $57.4750. 31,746 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 83,531 shares. The stock had previously closed at $53.05.

The semiconductor company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. The firm had revenue of $231.81 million during the quarter, compared to the consensus estimate of $236.95 million. During the same quarter last year, the firm earned ($0.51) earnings per share. The firm’s revenue was up 28.7% compared to the same quarter last year.

Chipmos Technologies Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, July 24th. Investors of record on Monday, June 29th were paid a $0.7826 dividend. This represents a dividend yield of 134.0%. This is a boost from Chipmos Technologies’s previous annual dividend of $0.61. The ex-dividend date was Monday, June 29th. Chipmos Technologies’s dividend payout ratio (DPR) is presently 86.49%.

Wall Street Analyst Weigh In

IMOS has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Hedge Funds Weigh In On Chipmos Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of Chipmos Technologies by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock valued at $3,301,000 after purchasing an additional 335 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Chipmos Technologies by 163.0% during the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 494 shares during the last quarter. Allworth Financial LP increased its position in 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 buying an additional 587 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Chipmos Technologies by 3.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock worth $829,000 after acquiring an additional 830 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Chipmos Technologies by 5.0% in the fourth quarter. Ballentine Partners LLC now owns 21,521 shares of the semiconductor company’s stock worth $638,000 after acquiring an additional 1,028 shares during the last quarter. Institutional investors and hedge funds own 7.39% of the company’s stock.

Chipmos Technologies Price 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 company has a 50-day moving average price of $61.00 and a 200-day moving average price of $49.25. The firm has a market capitalization of $2.02 billion, a PE ratio of 78.20 and a beta of 1.35.

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.