Chipmos Technologies (NASDAQ:IMOS) Trading Up 8.7% – Time to Buy?

Shares of Chipmos Technologies (NASDAQ:IMOS) shot up 8.7% on Tuesday . The stock traded as high as $62.60 and last traded at $63.3650. Approximately 11,744 shares were traded during mid-day trading, a decline of 84% from the average session volume of 72,723 shares. The stock had previously closed at $58.30.

Wall Street Analyst Weigh In

IMOS has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Friday, April 10th. Wall Street Zen downgraded shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 88.18 and a beta of 1.33. 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 business has a 50 day moving average price of $56.78 and a 200-day moving average price of $43.78.

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 issued a $0.7826 dividend. The ex-dividend date is Monday, June 29th. This is an increase from Chipmos Technologies’s previous annual dividend of $0.61. This represents a yield of 134.0%. Chipmos Technologies’s dividend payout ratio is presently 102.70%.

Hedge Funds Weigh In On Chipmos Technologies

Several institutional investors have recently added to or reduced their stakes in the business. XY Capital Ltd acquired a new stake in shares of Chipmos Technologies during the 4th quarter worth approximately $314,000. Rhumbline Advisers lifted 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 during the period. Goldman Sachs Group Inc. lifted its position in shares of Chipmos Technologies by 3.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock valued at $829,000 after acquiring an additional 830 shares during the period. Ballentine Partners LLC boosted its stake in Chipmos Technologies by 5.0% during the fourth quarter. Ballentine Partners LLC now owns 21,521 shares of the semiconductor company’s stock worth $638,000 after acquiring an additional 1,028 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Chipmos Technologies by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 91,919 shares of the semiconductor company’s stock worth $2,727,000 after acquiring an additional 356 shares in the last quarter. 7.39% of the stock is owned by institutional investors and hedge funds.

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.