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

Key Points

• Chipmos Technologies shares fell 9.2%, opening at $50.10 versus the prior close of $54.94, amid trading volume of 26,538 shares.
• Analyst sentiment remains cautious: Weiss Ratings maintained a “hold” rating, Wall Street Zen downgraded the stock to “buy” from “strong-buy,” and MarketBeat reports an overall “Hold” consensus.
• The company’s latest quarterly earnings missed expectations at $0.45 per share versus $0.50 forecast, although revenue rose 25.4% year over year to $217.06 million; Chipmos also increased its annual dividend to $0.7826 per share.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $54.94, but opened at $50.10. Chipmos Technologies shares last traded at $49.4510, with a volume of 26,538 shares traded.

Analyst Ratings Changes

IMOS has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Chipmos Technologies in a research note on Wednesday, July 8th. Wall Street Zen cut shares of Chipmos Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Chipmos Technologies has an average rating of "Hold".

Chipmos Technologies Stock Down 9.2%

The firm has a market cap of $1.76 billion, a P/E ratio of 67.81 and a beta of 1.33. The company's 50-day simple moving average is $62.28 and its 200 day simple moving average is $48.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). The company had revenue of $217.06 million for the quarter, compared to the consensus estimate of $214.39 million. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The company's revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share.

Chipmos Technologies Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, July 24th. Investors of record on Monday, June 29th were issued a dividend of $0.7826 per share. This represents a yield of 134.0%. The ex-dividend date was Monday, June 29th. This is a boost from Chipmos Technologies's previous annual dividend of $0.61. Chipmos Technologies's payout ratio is currently 86.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP raised its stake in shares of Chipmos Technologies by 74.7% in the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 587 shares during the period. NewEdge Advisors LLC grew its holdings in Chipmos Technologies by 163.0% during the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 494 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Chipmos Technologies by 16,828.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 1,178 shares during the last quarter. Smartleaf Asset Management LLC purchased a new stake in Chipmos Technologies in the 4th quarter worth about $54,000. Finally, GAMMA Investing LLC lifted its stake in Chipmos Technologies by 14.3% in the fourth quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company's stock worth $97,000 after purchasing an additional 410 shares during the last quarter. 7.39% of the stock is owned by hedge funds and other institutional investors.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc is a Taiwan‐based provider of outsourced semiconductor assembly, testing and packaging services. The company offers a comprehensive range of back‐end solutions including wafer probing, assembly, surface mount and final test services for memory chips, microcontrollers, system‐on‐chips and other integrated circuits. ChipMOS serves customers in the consumer electronics, communications, industrial and automotive markets by delivering reliable testing and packaging support to semiconductor fabless companies and foundries.

Founded in 1997 and headquartered in Hsinchu, Taiwan, ChipMOS operates multiple production facilities across Asia, including sites in Taoyuan (Taiwan), Guangdong Province (China) and Singapore.

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