ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Down on Disappointing Earnings

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $24.12, but opened at $23.44. ChipMOS TECHNOLOGIES shares last traded at $23.58, with a volume of 1,934 shares traded.

The semiconductor company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.11). The business had revenue of $179.00 million during the quarter, compared to the consensus estimate of $177.96 million. ChipMOS TECHNOLOGIES had a return on equity of 8.60% and a net margin of 9.62%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS.

ChipMOS TECHNOLOGIES Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, July 26th. Stockholders of record on Thursday, June 27th were paid a dividend of $0.858 per share. The ex-dividend date was Thursday, June 27th. This represents a dividend yield of 3.17%. ChipMOS TECHNOLOGIES’s dividend payout ratio is 45.41%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded ChipMOS TECHNOLOGIES from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Institutional Trading of ChipMOS TECHNOLOGIES

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMOS. JNBA Financial Advisors bought a new position in shares of ChipMOS TECHNOLOGIES during the 1st quarter worth approximately $31,000. BNP Paribas Financial Markets acquired a new stake in ChipMOS TECHNOLOGIES during the first quarter worth approximately $42,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of ChipMOS TECHNOLOGIES by 1.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 114,639 shares of the semiconductor company’s stock worth $3,605,000 after acquiring an additional 1,592 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of ChipMOS TECHNOLOGIES by 4.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 55,046 shares of the semiconductor company’s stock valued at $1,431,000 after purchasing an additional 2,319 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of ChipMOS TECHNOLOGIES by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 40,751 shares of the semiconductor company’s stock worth $1,109,000 after purchasing an additional 3,445 shares during the period. 7.39% of the stock is owned by institutional investors.

ChipMOS TECHNOLOGIES Stock Performance

The company has a fifty day moving average of $25.63 and a two-hundred day moving average of $27.60. The firm has a market capitalization of $842.87 million, a price-to-earnings ratio of 13.04 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.04 and a current ratio of 3.38.

About ChipMOS TECHNOLOGIES

ChipMOS TECHNOLOGIES INC. researches, develops, manufactures, and sells high-integration and high-precision integrated circuits, and related assembly and testing services in the People's Republic of China, 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.