Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Time to Sell?

Chipmos Technologies (NASDAQ:IMOS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $66.00, but opened at $62.05. Chipmos Technologies shares last traded at $63.2250, with a volume of 13,689 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IMOS. Wall Street Zen lowered Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Wednesday, July 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Chipmos Technologies has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The firm’s 50 day moving average price is $61.83 and its two-hundred day moving average price is $47.67. 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 firm has a market cap of $2.25 billion, a PE ratio of 87.03 and a beta of 1.33.

Chipmos Technologies (NASDAQ:IMOS) last released 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 for the quarter, compared to analysts’ expectations of $214.39 million. During the same period in the previous year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year.

Chipmos Technologies Increases Dividend

The firm also recently announced 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 yield of 134.0%. The ex-dividend date is Monday, June 29th. Chipmos Technologies’s dividend payout ratio (DPR) is presently 102.70%.

Hedge Funds Weigh In On Chipmos Technologies

A number of hedge funds have recently made changes to their positions in IMOS. Allworth Financial LP increased its holdings in Chipmos Technologies by 74.7% in the 3rd 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 during the last quarter. NewEdge Advisors LLC lifted its stake in Chipmos Technologies by 163.0% during the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 494 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Chipmos Technologies by 16,828.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 1,178 shares in the last quarter. Smartleaf Asset Management LLC purchased a new position in shares of Chipmos Technologies during the fourth quarter worth $54,000. Finally, GAMMA Investing LLC boosted its position in shares of Chipmos Technologies by 14.3% during the fourth quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock worth $97,000 after buying an additional 410 shares during the period. 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.