Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up After Dividend Announcement

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped up before the market opened on Wednesday after the company announced a dividend. The stock had previously closed at $55.23, but opened at $58.04. Chipmos Technologies shares last traded at $56.78, with a volume of 33,324 shares.

The newly announced 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. The ex-dividend date of this dividend is Monday, June 29th. This represents a dividend yield of 142.0%. This is a boost from Chipmos Technologies’s previous annual dividend of $0.61. Chipmos Technologies’s payout ratio is presently 86.49%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IMOS shares. Wall Street Zen downgraded Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a report on Friday, April 10th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Chipmos Technologies Stock Up 0.9%

The firm’s 50-day simple moving average is $44.81 and its 200-day simple moving average is $37.37. 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 capitalization of $1.96 billion, a price-to-earnings ratio of 76.33 and a beta of 1.16.

Chipmos Technologies (NASDAQ:IMOS) last announced its quarterly earnings data on Tuesday, February 24th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.12. Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. The business had revenue of $207.78 million during the quarter, compared to analyst estimates of $6.50 billion. During the same quarter in the prior year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis.

Hedge Funds Weigh In On Chipmos Technologies

Several large investors have recently added to or reduced their stakes in IMOS. Allworth Financial LP lifted its position in shares of Chipmos Technologies by 74.7% in the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 587 shares during the period. Farther Finance Advisors LLC increased its position in shares of 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 valued at $35,000 after purchasing an additional 1,178 shares during the period. Westside Investment Management Inc. increased its position in shares of Chipmos Technologies by 125.5% during the third quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 1,204 shares during the period. Smartleaf Asset Management LLC acquired a new position in shares of Chipmos Technologies in the fourth quarter valued at $54,000. Finally, GAMMA Investing LLC lifted its position in Chipmos Technologies by 14.3% in the fourth quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 410 shares during the period. Institutional investors and hedge funds 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.