Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down - Should You Sell?

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $18.21, but opened at $17.70. Chipmos Technologies shares last traded at $17.89, with a volume of 1,268 shares traded.

Chipmos Technologies Stock Performance

The company has a quick ratio of 2.40, a current ratio of 2.71 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $638.67 million, a PE ratio of 18.17 and a beta of 0.94. The business has a 50 day simple moving average of $18.79 and a 200 day simple moving average of $18.29.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $166.70 million for the quarter, compared to analysts' expectations of $5.26 billion. Chipmos Technologies had a net margin of 5.10% and a return on equity of 4.69%. Chipmos Technologies's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share.

Chipmos Technologies Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a dividend of $0.6132 per share. This represents a yield of 4.5%. The ex-dividend date of this dividend is Friday, June 27th. Chipmos Technologies's dividend payout ratio is currently 65.31%.

Chipmos Technologies declared that its board has authorized a stock repurchase plan on Tuesday, May 13th that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of Chipmos Technologies by 8.6% in the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company's stock valued at $162,000 after purchasing an additional 679 shares during the period. Tower Research Capital LLC TRC increased its stake in Chipmos Technologies by 1,000.0% during 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Chipmos Technologies by 761.4% during the fourth 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 last quarter. Parvin Asset Management LLC acquired a new stake in shares of Chipmos Technologies in the fourth quarter worth approximately $505,000. Finally, Wealthquest Corp purchased a new stake in shares of Chipmos Technologies during the first quarter worth approximately $52,000. Hedge funds and other 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.