Chipmos Technologies Ltd. (NASDAQ:IMOS) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Chipmos Technologies Ltd. (NASDAQ:IMOS) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $22.00 target price on the semiconductor company’s stock.

According to Zacks, “ChipMOS TECHNOLOGIES INC. is a semiconductor service company. It provides testing services for liquid crystal display drivers, high density memory and mixed-signal semiconductors. The company operates primarily in Taiwan, Singapore, the United States, Japan, Korea, Hong Kong and other countries. ChipMOS TECHNOLOGIES INC., formerly known as ChipMOS TECHNOLOGIES LTD., is headquartered in Taiwan. “

Shares of Chipmos Technologies (NASDAQ IMOS) traded down 1.591% on Wednesday, reaching $19.731. The company had a trading volume of 33,668 shares. Chipmos Technologies has a 12 month low of $13.94 and a 12 month high of $21.99.

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The firm also recently declared a dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 15th were paid a $0.604 dividend. The ex-dividend date was Tuesday, June 13th. Chipmos Technologies’s dividend payout ratio is presently 71.14%.

A number of hedge funds have recently bought and sold shares of IMOS. Renaissance Technologies LLC boosted its stake in Chipmos Technologies by 32.5% in the first quarter. Renaissance Technologies LLC now owns 2,012,388 shares of the semiconductor company’s stock worth $35,720,000 after buying an additional 493,569 shares in the last quarter. Morgan Stanley boosted its stake in Chipmos Technologies by 944.4% in the first quarter. Morgan Stanley now owns 149,303 shares of the semiconductor company’s stock worth $2,651,000 after buying an additional 135,007 shares in the last quarter. Foundry Partners LLC boosted its stake in Chipmos Technologies by 15.5% in the first quarter. Foundry Partners LLC now owns 135,076 shares of the semiconductor company’s stock worth $2,398,000 after buying an additional 18,095 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Chipmos Technologies during the fourth quarter worth $1,764,000. Finally, Russell Investments Group Ltd. acquired a new stake in Chipmos Technologies during the fourth quarter worth $1,419,000. Institutional investors own 23.64% of the company’s stock.

About Chipmos Technologies

ChipMOS TECHNOLOGIES (Bermuda) LTD. is a holding company. The Company is a provider of semiconductor assembly and test services. The Company provides testing and assembly services for liquid crystal display (LCD) and other flat-panel display driver semiconductors in Taiwan, and for memory and logic/mixed-signal products in Taiwan and Mainland China.

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