Chipmos Technologies (NASDAQ:IMOS) Shares Up 6% - Here's What Happened

Key Points

• Chipmos Technologies shares rose about 6% in Thursday trading, reaching as high as $73.27 after closing at $68.64 the prior day. Trading volume was lighter than usual, with about 34,862 shares changing hands.
• Analyst sentiment remains cautious, with Weiss Ratings reaffirming a hold rating and Wall Street Zen cutting its view from strong-buy to buy. MarketBeat says the stock’s consensus rating is currently Hold.
• The company recently raised its dividend to $0.7826 annually from $0.61, payable on July 24 to shareholders of record on June 29. Chipmos also reported quarterly revenue above estimates, though earnings per share missed consensus.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s share price traded up 6% during mid-day trading on Thursday . The company traded as high as $73.27 and last traded at $72.76. Approximately 34,862 shares changed hands during trading, a decline of 56% from the average session volume of 78,576 shares. The stock had previously closed at $68.64.

Analyst Upgrades and Downgrades

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

Chipmos Technologies Trading Up 5.4%

The company has a fifty day moving average of $61.06 and a 200-day moving average of $46.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08. The firm has a market capitalization of $2.55 billion, a PE ratio of 98.42 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 the consensus estimate of $0.50 by ($0.05). Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. The firm had revenue of $217.06 million during the quarter, compared to the consensus estimate of $214.39 million. During the same period in the previous year, the firm posted $0.15 EPS. The company's quarterly revenue was up 25.4% compared to the same quarter last year.

Chipmos Technologies Increases Dividend

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

Institutional Trading of Chipmos Technologies

Large investors have recently modified their holdings of the company. Rhumbline Advisers grew its position in shares of Chipmos Technologies by 51.4% in the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company's stock valued at $681,000 after purchasing an additional 12,759 shares during the last quarter. Quadrant Capital Group LLC bought a new stake in shares of Chipmos Technologies during the third quarter valued at approximately $219,000. XY Capital Ltd acquired a new position in shares of Chipmos Technologies in the 4th quarter valued at $314,000. RBF Capital LLC acquired a new position in Chipmos Technologies in the fourth quarter worth about $266,000. Finally, Delphi Management Inc. MA acquired a new position in shares of Chipmos Technologies in the 1st quarter worth approximately $254,000. 7.39% of the stock is owned by 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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