Chipmos Technologies (NASDAQ:IMOS) Sets New 12-Month High – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $72.00 and last traded at $70.5410, with a volume of 3975 shares. The stock had previously closed at $66.58.

Analyst Ratings Changes

Several research firms recently commented on IMOS. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Friday, April 10th. Wall Street Zen lowered 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, According to MarketBeat, the company currently has an average rating of “Hold”.

Chipmos Technologies Price Performance

The stock has a 50-day simple moving average of $53.57 and a 200 day simple moving average of $41.84. 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 company has a market cap of $2.54 billion, a P/E ratio of 97.97 and a beta of 1.31.

Chipmos Technologies Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, July 24th. Shareholders of record on Monday, June 29th will be paid a dividend of $0.7826 per share. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. This represents a yield of 142.0%. The ex-dividend date is Monday, June 29th. Chipmos Technologies’s dividend payout ratio is presently 86.49%.

Hedge Funds Weigh In On Chipmos Technologies

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Chipmos Technologies by 51.4% during the 2nd quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after acquiring an additional 12,759 shares in the last quarter. Bank of America Corp DE raised its position in Chipmos Technologies by 71.8% in the second quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 4,952 shares in the last quarter. Parallel Advisors LLC raised its position in Chipmos Technologies by 44.4% in the third quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 1,890 shares in the last quarter. Quadrant Capital Group LLC bought a new position in Chipmos Technologies during the third quarter worth about $219,000. Finally, Allworth Financial LP lifted its stake 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 purchasing an additional 587 shares during the period. Institutional investors and hedge funds own 7.39% of the company’s stock.

About Chipmos Technologies

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.