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

Key Points

• Chipmos Technologies shares gapped up before the market opened, rising from a previous close of $64.47 to an open of $68.67 as trading volume picked up.
• The company’s latest quarterly results showed EPS of $0.45, missing analyst expectations of $0.50, while revenue of $217.06 million slightly topped estimates and climbed 25.4% year over year.
• Chipmos recently raised its annual dividend to $0.7826 per share from $0.61, though the payout ratio remains above 100% and analysts currently rate the stock a consensus Hold.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $64.47, but opened at $68.67. Chipmos Technologies shares last traded at $68.7540, with a volume of 19,764 shares trading hands.

Analyst Upgrades and Downgrades

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

Chipmos Technologies Stock Performance

The business's fifty day moving average price is $60.80 and its two-hundred day moving average price is $46.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.08 and a current ratio of 2.40. The stock has a market capitalization of $2.35 billion, a P/E ratio of 90.84 and a beta of 1.33.

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

Chipmos Technologies Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Stockholders of record on Monday, June 29th will be paid a $0.7826 dividend. This represents a dividend yield of 134.0%. The ex-dividend date of this dividend is Monday, June 29th. This is a positive change from Chipmos Technologies's previous annual dividend of $0.61. Chipmos Technologies's dividend payout ratio is 102.70%.

Hedge Funds Weigh In On Chipmos Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Foster Group Inc. bought a new position in shares of Chipmos Technologies during the 2nd quarter valued at approximately $339,000. NewEdge Advisors LLC lifted its position in Chipmos Technologies by 163.0% in the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company's stock worth $29,000 after buying an additional 494 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Chipmos Technologies by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company's stock worth $3,301,000 after buying an additional 335 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in Chipmos Technologies during the first quarter worth $204,000. Finally, Delphi Management Inc. MA purchased a new position in Chipmos Technologies during the first quarter worth $254,000. Hedge funds and other institutional investors own 7.39% of the company's stock.

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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