ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Down - Time to Sell?

Shares of ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $20.05, but opened at $19.42. ChipMOS TECHNOLOGIES shares last traded at $20.01, with a volume of 643 shares traded.

ChipMOS TECHNOLOGIES Trading Down 2.8%

The stock's 50-day moving average price is $17.52 and its 200 day moving average price is $18.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.07 and a quick ratio of 2.72. The firm has a market capitalization of $690.34 million, a PE ratio of 13.46 and a beta of 0.96.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. The firm had revenue of $166.70 million for the quarter, compared to analysts' expectations of $5.26 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year.

ChipMOS TECHNOLOGIES Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be issued a $0.6132 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a dividend yield of 4.5%. ChipMOS TECHNOLOGIES's payout ratio is currently 62.24%.

ChipMOS TECHNOLOGIES announced that its board has authorized a share buyback program on Tuesday, May 13th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IMOS. Acadian Asset Management LLC boosted its stake in shares of ChipMOS TECHNOLOGIES by 14.5% during the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company's stock valued at $4,206,000 after purchasing an additional 31,768 shares in the last quarter. Wealthquest Corp purchased a new stake in ChipMOS TECHNOLOGIES during the first quarter worth $52,000. Envestnet Asset Management Inc. lifted its holdings in ChipMOS TECHNOLOGIES by 35.4% during the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock worth $941,000 after buying an additional 14,620 shares during the period. Bank of America Corp DE boosted its position in ChipMOS TECHNOLOGIES by 8.6% during the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company's stock valued at $162,000 after acquiring an additional 679 shares in the last quarter. Finally, Parvin Asset Management LLC purchased a new position in shares of ChipMOS TECHNOLOGIES in the 4th quarter valued at $505,000. Hedge funds and other institutional investors own 7.39% of the company's stock.

ChipMOS TECHNOLOGIES Company Profile

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.