Chipmos Technologies (NASDAQ:IMOS) Trading 11.7% Higher – Here’s What Happened

Shares of Chipmos Technologies (NASDAQ:IMOS) shot up 11.7% during trading on Thursday . The company traded as high as $76.35 and last traded at $76.03. Approximately 23,784 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 74,795 shares. The stock had previously closed at $68.07.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IMOS. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Friday, April 10th. Wall Street Zen cut shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Chipmos Technologies currently has an average rating of “Hold”.

Chipmos Technologies Stock Performance

The stock’s 50-day moving average price is $58.84 and its 200-day moving average price is $45.14. The company has a market cap of $2.62 billion, a P/E ratio of 101.23 and a beta of 1.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported $0.45 earnings per share 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 analyst estimates of $214.39 million. Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share.

Chipmos Technologies Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, July 24th. Investors of record on Monday, June 29th will be given a dividend of $0.7826 per share. This is a positive change from Chipmos Technologies’s previous annual dividend of $0.61. This represents a yield of 134.0%. The ex-dividend date of this dividend is Monday, June 29th. Chipmos Technologies’s dividend payout ratio (DPR) is currently 102.70%.

Institutional Investors Weigh In On Chipmos Technologies

Large investors have recently bought and sold shares of the company. XY Capital Ltd bought a new stake in shares of Chipmos Technologies during the 4th quarter worth approximately $314,000. Quadrant Capital Group LLC increased its stake in Chipmos Technologies by 14.7% in the fourth quarter. Quadrant Capital Group LLC now owns 13,132 shares of the semiconductor company’s stock valued at $389,000 after acquiring an additional 1,686 shares during the last quarter. Bank of America Corp DE raised its position in Chipmos Technologies by 10.0% during the third quarter. Bank of America Corp DE now owns 13,037 shares of the semiconductor company’s stock valued at $249,000 after purchasing an additional 1,185 shares in the last quarter. Smartleaf Asset Management LLC acquired a new position in Chipmos Technologies during the fourth quarter valued at approximately $54,000. 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 valued at $26,000 after purchasing an additional 587 shares in the last quarter. 7.39% of the stock is currently owned by institutional investors and hedge funds.

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.