Chipmos Technologies (NASDAQ:IMOS) Announces Quarterly Earnings Results

Key Points

• Chipmos Technologies beat earnings expectations, reporting quarterly EPS of $0.80 versus the $0.64 consensus estimate. Revenue rose 28.7% year over year to $231.81 million but fell short of the $236.95 million forecast.
• The company increased its annual dividend to $0.7826 per share from $0.61, with a reported payout ratio of 86.49%.
• Analyst sentiment remains cautious: Chipmos has an average “Hold” rating, while institutional investors own 7.39% of the stock.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) posted its quarterly earnings data on Tuesday. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.16, FiscalAI reports. 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 in the previous year, the firm posted ($0.51) EPS. The business's revenue for the quarter was up 28.7% compared to the same quarter last year.

Chipmos Technologies Price Performance

IMOS stock opened at $56.02 on Tuesday. The company has a 50 day simple moving average of $61.00 and a 200 day simple moving average of $49.25. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 75.91 and a beta of 1.35. Chipmos Technologies has a 1 year low of $15.06 and a 1 year high of $78.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08.

Chipmos Technologies Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IMOS. Rhumbline Advisers increased its holdings in Chipmos Technologies by 51.4% in the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company's stock valued at $681,000 after purchasing an additional 12,759 shares during the period. Bank of America Corp DE raised its position in shares of Chipmos Technologies by 71.8% during the second quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company's stock worth $215,000 after acquiring an additional 4,952 shares during the last quarter. Parallel Advisors LLC lifted its stake 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 worth $117,000 after acquiring an additional 1,890 shares during the period. Quadrant Capital Group LLC bought a new stake in Chipmos Technologies in the third quarter valued at approximately $219,000. Finally, Allworth Financial LP boosted its stake in shares of Chipmos Technologies by 74.7% in 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. 7.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IMOS. Wall Street Zen downgraded Chipmos Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chipmos Technologies in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

About Chipmos Technologies

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.

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