Chipmos Technologies (NASDAQ:IMOS) Issues Quarterly Earnings Results

Key Points

• Chipmos Technologies reported a significant earnings miss with a loss of ($0.51) per share, falling short of the consensus estimate of $0.29 by ($0.80).
• The company also announced a cut in dividends, with a recent annual dividend payout of $0.6132 per share, resulting in a dividend yield of 450.0% despite a payout ratio of 65.31%.
• Wall Street analysts have downgraded the company's stock rating from "hold" to "sell," reflecting concerns over its financial performance and outlook.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) posted its earnings results on Tuesday. The semiconductor company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.80), Zacks reports. Chipmos Technologies had a return on equity of 4.69% and a net margin of 5.10%. Chipmos Technologies's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS.

Chipmos Technologies Trading Down 0.7%

IMOS opened at $17.65 on Tuesday. Chipmos Technologies has a 52 week low of $12.78 and a 52 week high of $24.20. The business has a fifty day simple moving average of $18.46 and a 200-day simple moving average of $18.16. The firm has a market cap of $632.93 million, a P/E ratio of 18.06 and a beta of 0.95. The company has a quick ratio of 2.40, a current ratio of 2.71 and a debt-to-equity ratio of 0.42.

Chipmos Technologies Cuts Dividend

The company also recently declared an annual dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were given a dividend of $0.6132 per share. This represents a dividend yield of 450.0%. The ex-dividend date was Friday, June 27th. Chipmos Technologies's dividend payout ratio (DPR) is currently 65.31%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Chipmos Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th.

Chipmos Technologies declared that its board has approved a stock repurchase program on Tuesday, May 13th that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

About Chipmos Technologies

ChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in the People's Republic of China, Taiwan, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and Other Display Panel Driver Semiconductors; Bumping; and Others segments.

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