Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up - Should You Buy?

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $17.41, but opened at $18.20. Chipmos Technologies shares last traded at $18.20, with a volume of 2,853 shares.

Chipmos Technologies Stock Performance

The stock has a market cap of $649.78 million, a PE ratio of 18.49 and a beta of 0.94. 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 business's 50-day moving average price is $18.83 and its 200-day moving average price is $18.31.

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). Chipmos Technologies had a return on equity of 4.69% and a net margin of 5.10%. The company had revenue of $166.70 million during the quarter, compared to analysts' expectations of $5.26 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year.

Chipmos Technologies Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, July 25th. Shareholders 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 yield of 4.5%. Chipmos Technologies's dividend payout ratio (DPR) is presently 64.29%.

Chipmos Technologies announced that its board has approved a stock repurchase plan on Tuesday, May 13th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in shares of Chipmos Technologies by 14.5% during the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company's stock valued at $4,206,000 after acquiring an additional 31,768 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in Chipmos Technologies in the 4th quarter valued at approximately $505,000. Ballentine Partners LLC raised its position in Chipmos Technologies by 110.7% in the second quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company's stock valued at $576,000 after purchasing an additional 16,707 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Chipmos Technologies by 35.4% during the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock worth $941,000 after buying an additional 14,620 shares during the period. Finally, Tower Research Capital LLC TRC lifted 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 acquiring an additional 5,000 shares in the last quarter. 7.39% of the stock is owned by hedge funds and other institutional investors.

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.