Chipmos Technologies (NASDAQ:IMOS) Sees Large Growth in Short Interest

Chipmos Technologies (NASDAQ:IMOS) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 37,452 shares, a growth of 140.6% from the February 26th total of 15,563 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 45,201 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On Chipmos Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMOS. Allworth Financial LP grew its position in shares of Chipmos Technologies by 74.7% in the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after buying an additional 587 shares during the period. Farther Finance Advisors LLC lifted its position in Chipmos Technologies by 16,828.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 1,178 shares during the period. Westside Investment Management Inc. boosted its stake in Chipmos Technologies by 125.5% during the third quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 1,204 shares in the last quarter. Smartleaf Asset Management LLC bought a new stake in Chipmos Technologies during the fourth quarter worth about $54,000. Finally, GAMMA Investing LLC grew its holdings in Chipmos Technologies by 131.7% in the third quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 1,629 shares during the period. Hedge funds and other institutional investors own 7.39% of the company’s stock.

Chipmos Technologies Trading Down 1.4%

Shares of NASDAQ IMOS traded down $0.50 during trading hours on Friday, hitting $35.82. The company’s stock had a trading volume of 49,407 shares, compared to its average volume of 49,352. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.12 and a current ratio of 2.47. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 83.30 and a beta of 1.00. Chipmos Technologies has a 12 month low of $12.78 and a 12 month high of $45.43. The business has a 50-day simple moving average of $38.35 and a 200-day simple moving average of $29.80.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings results on Tuesday, February 24th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.12. The business had revenue of $207.78 million for the quarter, compared to analysts’ expectations of $6.50 billion. Chipmos Technologies had a net margin of 1.88% and a return on equity of 1.90%. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share.

Wall Street Analyst Weigh In

A number of brokerages have commented on IMOS. Weiss Ratings raised Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Chipmos Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Chipmos Technologies presently has an average rating of “Hold”.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc is a Taiwan‐based provider of outsourced semiconductor assembly, testing and packaging services. The company offers a comprehensive range of back‐end solutions including wafer probing, assembly, surface mount and final test services for memory chips, microcontrollers, system‐on‐chips and other integrated circuits. ChipMOS serves customers in the consumer electronics, communications, industrial and automotive markets by delivering reliable testing and packaging support to semiconductor fabless companies and foundries.

Founded in 1997 and headquartered in Hsinchu, Taiwan, ChipMOS operates multiple production facilities across Asia, including sites in Taoyuan (Taiwan), Guangdong Province (China) and Singapore.