ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Down - What's Next?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report)'s stock price 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.

ChipMOS TECHNOLOGIES Price Performance

The company has a quick ratio of 2.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.49. The stock has a market cap of $710.07 million, a price-to-earnings ratio of 13.85 and a beta of 0.96. The company's 50-day moving average is $17.41 and its 200-day moving average is $18.41.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.15 earnings per share 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 the consensus estimate of $5.26 billion. During the same period in the prior year, the company posted $0.38 earnings per share. ChipMOS TECHNOLOGIES's quarterly revenue was up 2.1% compared to the same quarter last year.

ChipMOS TECHNOLOGIES Cuts Dividend

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

ChipMOS TECHNOLOGIES declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 13th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

A number of hedge funds and other institutional investors have recently made changes to their positions in IMOS. Wealthquest Corp bought a new stake in ChipMOS TECHNOLOGIES in the 1st quarter valued at $52,000. Lindbrook Capital LLC grew its stake in ChipMOS TECHNOLOGIES by 34.8% in the 4th quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company's stock valued at $60,000 after buying an additional 826 shares during the last quarter. JPMorgan Chase & Co. grew its stake in 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 buying an additional 3,609 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in 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 valued at $104,000 after buying an additional 5,000 shares during the last quarter. Finally, Bank of America Corp DE grew 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 valued at $162,000 after buying an additional 679 shares during the last quarter. 7.39% of the stock is owned by institutional investors.

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.