Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Should You Sell?

Chipmos Technologies (NASDAQ:IMOS) shares gapped down prior to trading on Thursday. The stock had previously closed at $62.34, but opened at $57.55. Chipmos Technologies shares last traded at $57.0110, with a volume of 8,572 shares.

Analyst Ratings Changes

Separately, Weiss Ratings raised Chipmos Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Hold rating. According to MarketBeat, Chipmos Technologies has an average rating of “Hold”.

Chipmos Technologies Stock Up 1.2%

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.39 and a quick ratio of 1.94. The stock has a 50 day moving average price of $62.64 and a 200-day moving average price of $58.38. The stock has a market capitalization of $1.98 billion, a P/E ratio of 27.43 and a beta of 1.24.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. Chipmos Technologies had a return on equity of 9.19% and a net margin of 8.30%. The firm had revenue of $231.81 million during the quarter, compared to analyst estimates of $236.95 million. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The business’s quarterly revenue was up 28.7% compared to the same quarter last year.

Hedge Funds Weigh In On Chipmos Technologies

Several large investors have recently made changes to their positions in the business. NewEdge Advisors LLC lifted its position in Chipmos Technologies by 163.0% in the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 494 shares in the last quarter. Kathmere Capital Management LLC bought a new position in shares of Chipmos Technologies during the 1st quarter valued at $204,000. Squarepoint Ops LLC bought a new position in Chipmos Technologies in the second quarter valued at about $235,000. GAMMA Investing LLC grew its stake in shares of Chipmos Technologies by 21.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,100 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 737 shares during the period. Finally, Foster Group Inc. bought a new position in shares of Chipmos Technologies in the 2nd quarter worth approximately $339,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc (NASDAQ: IMOS) is a semiconductor assembly and testing services provider. The company operates in the outsourced semiconductor assembly and test (OSAT) industry, supporting integrated-circuit manufacturers and other customers with back-end semiconductor production services.

Its services include wafer probing and sorting, wafer bumping, semiconductor assembly, final testing, and related engineering and production support. ChipMOS serves a range of semiconductor applications, including memory products, display driver integrated circuits, logic and mixed-signal devices, and other components used in consumer electronics, communications equipment, and computing products.

ChipMOS is headquartered in Taiwan and has developed its manufacturing and testing operations in Taiwan and other parts of Asia.