Chipmos Technologies (NASDAQ:IMOS) Sees Strong Trading Volume - Time to Buy?

Key Points

• Chipmos Technologies saw unusually high trading volume, with 62,070 shares changing hands, and the stock rose to $77.00 from a previous close of $74.37.
• The company’s latest quarterly results were mixed: earnings missed estimates at $0.45 per share versus $0.50 expected, but revenue of $217.06 million topped forecasts and increased 25.4% year over year.
• Chipmos also raised its annual dividend to $0.7826 from $0.61, though the payout ratio remains above 100%, and analysts currently rate the stock around Hold.

Shares of Chipmos Technologies (NASDAQ:IMOS - Get Free Report) saw unusually-high trading volume on Friday . 62,070 shares changed hands during trading, a decline of 18% from the previous session's volume of 75,256 shares.The stock last traded at $77.0030 and had previously closed at $74.37.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chipmos Technologies in a research note on Wednesday. Wall Street Zen lowered Chipmos Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. One 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 Price Performance

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's 50-day moving average price is $59.47 and its 200-day moving average price is $45.47. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 104.14 and a beta of 1.33.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. The company had revenue of $217.06 million during the quarter, compared to analyst estimates of $214.39 million. During the same period in the prior year, the business earned $0.15 EPS. The business's revenue for the quarter was up 25.4% on a year-over-year basis.

Chipmos Technologies Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, July 24th. Stockholders of record on Monday, June 29th will be paid a $0.7826 dividend. This is an increase from Chipmos Technologies's previous annual dividend of $0.61. The ex-dividend date of this dividend is Monday, June 29th. This represents a dividend yield of 134.0%. Chipmos Technologies's payout ratio is 102.70%.

Hedge Funds Weigh In On Chipmos Technologies

Several large investors have recently made changes to their positions in the company. Allworth Financial LP increased 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 acquiring an additional 587 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Chipmos Technologies by 163.0% during the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 494 shares during the period. Farther Finance Advisors LLC increased its stake in Chipmos Technologies by 16,828.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 1,178 shares in the last quarter. Smartleaf Asset Management LLC bought a new stake in Chipmos Technologies in the fourth quarter valued at approximately $54,000. Finally, GAMMA Investing LLC increased its stake in Chipmos Technologies by 14.3% in the fourth quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company's stock valued at $97,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 7.39% of the company's stock.

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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