ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Up - Here's What Happened

Shares of ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $18.55, but opened at $19.37. ChipMOS TECHNOLOGIES shares last traded at $19.25, with a volume of 616 shares.

ChipMOS TECHNOLOGIES Stock Performance

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 stock has a market capitalization of $714.15 million, a PE ratio of 13.73 and a beta of 0.96. The firm has a fifty day moving average price of $17.08 and a two-hundred day moving average price of $18.39.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last issued its earnings results on Tuesday, May 13th. The semiconductor company reported $0.15 EPS 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 return on equity of 6.66% and a net margin of 7.25%. The business's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share.

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 paid a dividend of $0.6132 per share. The ex-dividend date is Friday, June 27th. This represents a dividend yield of 4.5%. ChipMOS TECHNOLOGIES's dividend payout ratio (DPR) is presently 62.24%.

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

Institutional Trading of ChipMOS TECHNOLOGIES

Large investors have recently added to or reduced their stakes in the company. Wealthquest Corp purchased a new stake in ChipMOS TECHNOLOGIES in the first quarter valued at $52,000. Lindbrook Capital LLC lifted its holdings in shares of 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 period. JPMorgan Chase & Co. boosted its stake in shares of ChipMOS TECHNOLOGIES by 761.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company's stock worth $77,000 after buying an additional 3,609 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in ChipMOS TECHNOLOGIES by 1,000.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company's stock worth $104,000 after acquiring an additional 5,000 shares during the period. Finally, Bank of America Corp DE raised its position in ChipMOS TECHNOLOGIES by 8.6% during the fourth 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. 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.