Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up - Time to Buy?

Key Points

• Chipmos Technologies shares gapped higher, opening at $53.00 versus a prior close of $48.32, before trading near $52.07.
• Analyst sentiment remains cautious: Wall Street Zen downgraded the stock to “buy,” Weiss Ratings maintained a “hold,” and the overall consensus rating is “Hold.”
• First-quarter revenue rose 25.4% year over year to $217.06 million, though EPS of $0.45 missed estimates by $0.05. The company also increased its annual dividend to $0.7826 per share, while institutional ownership stands at 7.39%.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $48.32, but opened at $53.00. Chipmos Technologies shares last traded at $52.0710, with a volume of 13,152 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IMOS shares. Wall Street Zen lowered Chipmos Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Chipmos Technologies in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

Chipmos Technologies Price Performance

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 70.39 and a beta of 1.33. The company has a current ratio of 2.40, a quick ratio of 2.08 and a debt-to-equity ratio of 0.44. The company's 50 day moving average price is $62.08 and its 200 day moving average price is $48.87.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). The firm had revenue of $217.06 million for the quarter, compared to analyst estimates 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 quarter last year, the firm earned $0.15 earnings per share.

Chipmos Technologies Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, June 29th were paid a dividend of $0.7826 per share. This is a positive change from Chipmos Technologies's previous annual dividend of $0.61. The ex-dividend date of this dividend was Monday, June 29th. This represents a dividend yield of 134.0%. Chipmos Technologies's dividend payout ratio (DPR) is currently 102.70%.

Institutional Trading of Chipmos Technologies

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in shares of Chipmos Technologies by 51.4% in the 2nd quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company's stock worth $681,000 after acquiring an additional 12,759 shares during the period. Bank of America Corp DE grew its stake in Chipmos Technologies by 71.8% in the 2nd quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company's stock valued at $215,000 after acquiring an additional 4,952 shares during the last quarter. Parallel Advisors LLC increased its holdings in Chipmos Technologies by 44.4% during the 3rd quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company's stock valued at $117,000 after acquiring an additional 1,890 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in Chipmos Technologies during the 3rd quarter valued at about $219,000. Finally, Allworth Financial LP raised its position in Chipmos Technologies by 74.7% during the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 587 shares during the last quarter. 7.39% of the stock is currently 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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