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

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $18.67, but opened at $18.08. Chipmos Technologies shares last traded at $18.49, with a volume of 625 shares.

Chipmos Technologies Stock Performance

The business's 50 day simple moving average is $18.77 and its 200 day simple moving average is $18.36. The company has a current ratio of 2.71, a quick ratio of 2.40 and a debt-to-equity ratio of 0.42. The company has a market cap of $649.82 million, a P/E ratio of 18.49 and a beta of 0.94.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.04). The business had revenue of $166.70 million for the quarter, compared to analysts' expectations of $5.26 billion. Chipmos Technologies had a return on equity of 4.69% and a net margin of 5.10%. Chipmos Technologies's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS.

Chipmos Technologies Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be given a dividend of $0.6132 per share. This represents a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, June 27th. Chipmos Technologies's dividend payout ratio (DPR) is presently 63.27%.

Chipmos Technologies announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 13th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IMOS. Wealthquest Corp acquired a new stake in Chipmos Technologies in the first quarter worth $52,000. JPMorgan Chase & Co. raised its stake 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 in the last quarter. Tower Research Capital LLC TRC increased its position 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 worth $104,000 after buying an additional 5,000 shares during the period. Bank of America Corp DE grew its holdings in shares of 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 worth $162,000 after purchasing an additional 679 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in Chipmos Technologies in the 4th quarter valued at $505,000. Institutional investors and hedge funds 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.

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