Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Should You Sell?

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $18.67, but opened at $18.08. Chipmos Technologies shares last traded at $18.49, with a volume of 625 shares.

Chipmos Technologies Stock Down 1.9%

The stock has a market capitalization of $656.60 million, a P/E ratio of 18.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.71 and a quick ratio of 2.40. The stock’s fifty day moving average is $18.78 and its two-hundred day moving average is $18.34.

Chipmos Technologies (NASDAQ:IMOS) last issued its earnings results on Tuesday, May 13th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Chipmos Technologies had a return on equity of 4.69% and a net margin of 5.10%. The business had revenue of $166.70 million for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis.

Chipmos Technologies Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be paid a $0.6132 dividend. This represents a yield of 4.5%. The ex-dividend date is Friday, June 27th. Chipmos Technologies’s dividend payout ratio is 64.29%.

Chipmos Technologies declared that its board has approved a share repurchase program on Tuesday, May 13th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Chipmos Technologies by 8.6% in the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 679 shares during the period. Tower Research Capital LLC TRC boosted its stake in Chipmos Technologies by 1,000.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 5,000 shares during the period. JPMorgan Chase & Co. boosted its stake in Chipmos Technologies by 761.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 3,609 shares during the period. Parvin Asset Management LLC purchased a new stake in Chipmos Technologies in the 4th quarter worth approximately $505,000. Finally, Wealthquest Corp purchased a new stake in Chipmos Technologies in the 1st quarter worth approximately $52,000. Institutional investors and hedge funds own 7.39% of the company’s stock.

Chipmos Technologies Company Profile

ChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in the People’s Republic of China, Taiwan, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and Other Display Panel Driver Semiconductors; Bumping; and Others segments.