Chipmos Technologies (NASDAQ:IMOS) Trading Up 4.9% – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS)’s stock price was up 4.9% during mid-day trading on Tuesday . The stock traded as high as $57.83 and last traded at $57.31. 13,862 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 83,744 shares. The stock had previously closed at $54.64.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IMOS shares. Wall Street Zen downgraded Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Chipmos Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Chipmos Technologies Stock Up 5.0%

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 $2.02 billion, a price-to-earnings ratio of 28.06 and a beta of 1.35. The stock’s fifty day moving average is $59.23 and its two-hundred day moving average is $51.13.

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, beating the consensus estimate of $0.64 by $0.16. The business 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 9.25%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) EPS.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Chipmos Technologies by 0.4% during the first 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. NewEdge Advisors LLC lifted its stake in Chipmos Technologies by 163.0% during 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. Allworth Financial LP boosted its holdings in 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 acquiring an additional 587 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 acquiring an additional 830 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Chipmos Technologies by 5.0% in 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 in the last quarter. Hedge funds and other institutional investors own 7.39% of the company’s stock.

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.