Chipmos Technologies (NASDAQ:IMOS) Stock Price Down 6.8% – What’s Next?

Shares of Chipmos Technologies (NASDAQ:IMOS) traded down 6.8% during mid-day trading on Thursday. The stock traded as low as $63.56 and last traded at $64.46. 33,020 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 85,422 shares. The stock had previously closed at $69.19.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Chipmos Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The business’s fifty day moving average is $61.98 and its two-hundred day moving average is $57.33. The company has a quick ratio of 1.94, a current ratio of 2.39 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.26 billion, a PE ratio of 31.34 and a beta of 1.24.

Chipmos Technologies (NASDAQ:IMOS) last announced its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.16. The company had revenue of $231.81 million for the quarter, compared to analysts’ expectations of $236.95 million. Chipmos Technologies had a net margin of 8.30% and a return on equity of 9.19%. Chipmos Technologies’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) earnings per share.

Institutional Trading of Chipmos Technologies

Several hedge funds have recently made changes to their positions in the business. XY Capital Ltd bought a new position in shares of Chipmos Technologies in the 2nd quarter valued at about $8,373,000. Dimensional Fund Advisors LP grew its position in Chipmos Technologies by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock worth $3,301,000 after acquiring an additional 335 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in Chipmos Technologies in the second quarter worth about $517,000. Delphi Management Inc. MA bought a new stake in Chipmos Technologies during the first quarter worth approximately $254,000. Finally, Engineers Gate Manager LP bought a new stake in Chipmos Technologies during the second quarter worth approximately $373,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc is a Taiwan-based semiconductor assembly and testing company that provides outsourced semiconductor packaging and testing services. The company supports integrated-circuit manufacturers and electronics companies by handling portions of the back-end semiconductor production process, including wafer testing, assembly, packaging, and final testing.

Its service and product offerings include packaging and testing for memory, logic, mixed-signal, and display driver integrated circuits.