Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – What’s Next?

Chipmos Technologies (NASDAQ:IMOS) gapped down prior to trading on Tuesday . The stock had previously closed at $51.40, but opened at $48.84. Chipmos Technologies shares last traded at $48.5440, with a volume of 8,629 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on IMOS shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a report on Friday, April 10th. Wall Street Zen cut Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Chipmos Technologies has an average rating of “Hold”.

Chipmos Technologies Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.08 and a current ratio of 2.40. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 66.23 and a beta of 1.16. The business has a fifty day moving average price of $43.33 and a 200 day moving average price of $36.14.

Chipmos Technologies (NASDAQ:IMOS) last posted its quarterly earnings results on Tuesday, February 24th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.12. Chipmos Technologies had a return on equity of 3.28% and a net margin of 3.05%.The company had revenue of $207.78 million during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter in the previous year, the firm earned $0.19 EPS. Chipmos Technologies’s revenue was up 26.2% on a year-over-year basis.

Hedge Funds Weigh In On Chipmos Technologies

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Chipmos Technologies by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock worth $3,301,000 after buying an additional 335 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Chipmos Technologies by 14.3% during the 4th quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock worth $97,000 after buying an additional 410 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Chipmos Technologies by 74.7% during 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 in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Chipmos Technologies by 3.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock worth $829,000 after buying an additional 830 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in Chipmos Technologies by 5.0% during the 4th quarter. Ballentine Partners LLC now owns 21,521 shares of the semiconductor company’s stock worth $638,000 after acquiring an additional 1,028 shares during the last quarter. Institutional investors and hedge funds own 7.39% of the company’s stock.

About Chipmos Technologies

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.