Chipmos Technologies (NASDAQ:IMOS) Shares Down 6.4% - Here's Why

Key Points

• Chipmos Technologies' shares dropped 6.4% to $16.40, with trading volume falling significantly below average.
• Wall Street analysts have downgraded Chipmos from a "hold" to a "sell" rating, reflecting concerns about the company's recent performance.
• In its latest quarterly earnings, the company reported a loss of ($0.51) EPS, missing expectations and indicating a 1.3% revenue decline year-over-year.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) shares were down 6.4% during mid-day trading on Thursday . The stock traded as low as $16.65 and last traded at $16.40. Approximately 14,605 shares traded hands during trading, a decline of 30% from the average daily volume of 20,784 shares. The stock had previously closed at $17.52.

Analysts Set New Price Targets

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

Chipmos Technologies Price Performance

The business's 50 day moving average is $18.10 and its two-hundred day moving average is $18.01. The firm has a market capitalization of $541.13 million, a PE ratio of 167.67 and a beta of 0.95. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.71 and a quick ratio of 2.40.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The semiconductor company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.80). Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The company had revenue of $188.55 million for the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the business posted $0.38 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year.

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 issued a dividend of $0.6132 per share. The ex-dividend date was Friday, June 27th. This represents a dividend yield of 450.0%. Chipmos Technologies's dividend payout ratio is presently 711.11%.

Chipmos Technologies announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 13th that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMOS. Wealthquest Corp purchased a new position in shares of Chipmos Technologies in the 1st quarter worth approximately $52,000. JPMorgan Chase & Co. increased its holdings in shares of Chipmos Technologies by 761.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company's stock valued at $77,000 after acquiring an additional 3,609 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Chipmos Technologies by 1,000.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company's stock worth $104,000 after purchasing an additional 5,000 shares in the last quarter. Bank of America Corp DE boosted its stake in Chipmos Technologies by 8.6% in the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company's stock worth $162,000 after purchasing an additional 679 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Chipmos Technologies by 27.0% during the second quarter. Signaturefd LLC now owns 22,180 shares of the semiconductor company's stock worth $402,000 after buying an additional 4,716 shares during the period. Institutional investors own 7.39% of the company's stock.

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.