Chipmos Technologies (NASDAQ:IMOS) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Chipmos Technologies (NASDAQ:IMOS) from a hold rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Chipmos Technologies in a report on Tuesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Chipmos Technologies Stock Down 3.0%

IMOS opened at $28.20 on Friday. The business has a 50 day simple moving average of $21.71 and a 200-day simple moving average of $19.26. Chipmos Technologies has a 12 month low of $12.78 and a 12 month high of $30.98. The stock has a market capitalization of $1.01 billion, a P/E ratio of 313.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.29 and a quick ratio of 1.97.

Chipmos Technologies (NASDAQ:IMOS) last issued its earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.20. The company had revenue of $201.70 million for the quarter, compared to analyst estimates of $6.50 billion. Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share.

Chipmos Technologies declared that its Board of Directors has approved a share buyback plan on Tuesday, September 2nd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Chipmos Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Ballentine Partners LLC boosted its stake in Chipmos Technologies by 110.7% during the 2nd quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock valued at $576,000 after purchasing an additional 16,707 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Chipmos Technologies by 66.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 69,191 shares of the semiconductor company’s stock worth $1,253,000 after buying an additional 27,617 shares during the period. Acadian Asset Management LLC grew its position in Chipmos Technologies by 14.5% during the 1st quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company’s stock worth $4,206,000 after purchasing an additional 31,768 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Chipmos Technologies by 35.4% during the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company’s stock valued at $941,000 after buying an additional 14,620 shares in the last quarter. Finally, Wealthquest Corp acquired a new position in shares of Chipmos Technologies in the 1st quarter valued at about $52,000. Institutional investors 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.