ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sees Strong Trading Volume Following Dividend Announcement

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) saw an uptick in trading volume on Friday after the company announced a dividend. 16,047 shares traded hands during trading, a decline of 30% from the previous session’s volume of 22,775 shares.The stock last traded at $17.74 and had previously closed at $18.93.

The newly announced dividend which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be paid a $0.6132 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a yield of 4.5%. ChipMOS TECHNOLOGIES’s dividend payout ratio (DPR) is currently 62.24%.

ChipMOS TECHNOLOGIES Stock Down 0.5%

The company has a current ratio of 3.07, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $16.95 and a 200 day simple moving average of $18.41. The firm has a market capitalization of $682.51 million, a PE ratio of 13.13 and a beta of 0.92.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last announced its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The company had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $5.26 billion. ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. ChipMOS TECHNOLOGIES’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share.

ChipMOS TECHNOLOGIES announced that its Board of Directors has authorized a share buyback program on Tuesday, May 13th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On ChipMOS TECHNOLOGIES

A number of large investors have recently made changes to their positions in IMOS. Acadian Asset Management LLC grew its position in shares of ChipMOS TECHNOLOGIES by 14.5% in the 1st quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company’s stock worth $4,206,000 after buying an additional 31,768 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of ChipMOS TECHNOLOGIES in the 4th quarter worth approximately $505,000. ABC Arbitrage SA bought a new stake in shares of ChipMOS TECHNOLOGIES in the 4th quarter worth approximately $393,000. Envestnet Asset Management Inc. grew its position in shares of ChipMOS TECHNOLOGIES by 35.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company’s stock worth $941,000 after buying an additional 14,620 shares during the last quarter. Finally, XY Capital Ltd bought a new stake in shares of ChipMOS TECHNOLOGIES in the 4th quarter worth approximately $189,000. 7.39% of the stock is currently owned by institutional investors.

About ChipMOS TECHNOLOGIES

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.