Chipmos Technologies (NASDAQ:IMOS) Shares Down 5.3% - Time to Sell?

Key Points

• ChipMOS Technologies shares fell 5.3% on Monday, trading as low as $65.42 after closing at $68.81, with volume far below normal at just 6,516 shares.
• Analyst sentiment is mixed but still cautious: Wall Street Zen downgraded the stock from strong-buy to buy, Weiss Ratings reiterated a hold, and MarketBeat data shows a consensus rating of Hold.
• The company recently missed quarterly EPS estimates, though revenue topped expectations and rose 25.4% year over year; it also raised its annual dividend to $0.7826 per share, but the payout ratio is above 100%.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) was down 5.3% during trading on Monday . The company traded as low as $65.42 and last traded at $65.1310. 6,516 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 80,010 shares. The stock had previously closed at $68.81.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IMOS. Wall Street Zen cut shares of 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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Chipmos Technologies has a consensus rating of "Hold".

Chipmos Technologies Stock Down 5.3%

The business's fifty day moving average price is $61.46 and its 200 day moving average price is $47.19. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 88.61 and a beta of 1.33. The company has a current ratio of 2.40, a quick ratio of 2.08 and a debt-to-equity ratio of 0.44.

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). The business had revenue of $217.06 million for the quarter, compared to analyst estimates of $214.39 million. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The firm's revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS.

Chipmos Technologies Increases Dividend

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

Institutional Trading of Chipmos Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Foster Group Inc. acquired a new stake in Chipmos Technologies during the 2nd quarter worth approximately $339,000. NewEdge Advisors LLC increased 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 valued at $29,000 after purchasing an additional 494 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Chipmos Technologies by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company's stock worth $3,301,000 after purchasing an additional 335 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Chipmos Technologies during the first quarter worth approximately $204,000. Finally, Delphi Management Inc. MA acquired a new stake in shares of Chipmos Technologies during the first quarter worth $254,000. 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.

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