Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS) gapped up prior to trading on Friday . The stock had previously closed at $39.43, but opened at $42.42. Chipmos Technologies shares last traded at $42.90, with a volume of 20,432 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on IMOS shares. Wall Street Zen upgraded shares of Chipmos Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Weiss Ratings raised shares of Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Chipmos Technologies Price Performance

The business’s 50 day moving average price is $29.40 and its 200-day moving average price is $22.29. The company has a quick ratio of 2.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.50 billion, a PE ratio of 266.84 and a beta of 1.04.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.20. Chipmos Technologies had a net margin of 0.78% and a return on equity of 0.75%. The firm had revenue of $201.70 million for the quarter, compared to the consensus estimate of $6.50 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis.

Institutional Investors Weigh In On Chipmos Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of IMOS. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Chipmos Technologies by 66.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 69,191 shares of the semiconductor company’s stock valued at $1,253,000 after buying an additional 27,617 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Chipmos Technologies by 110.7% in the second quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock worth $576,000 after buying an additional 16,707 shares during the last quarter. ABC Arbitrage SA acquired a new stake in Chipmos Technologies in the third quarter valued at $290,000. Creative Planning boosted its stake in Chipmos Technologies by 50.3% during the 2nd quarter. Creative Planning now owns 45,283 shares of the semiconductor company’s stock valued at $820,000 after acquiring an additional 15,150 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Chipmos Technologies by 5.9% during the 2nd quarter. Acadian Asset Management LLC now owns 265,392 shares of the semiconductor company’s stock worth $4,795,000 after acquiring an additional 14,697 shares in the last quarter. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

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.