Chipmos Technologies (NASDAQ:IMOS) Reaches New 1-Year High – Time to Buy?

Chipmos Technologies (NASDAQ:IMOS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.98 and last traded at $29.87, with a volume of 74600 shares trading hands. The stock had previously closed at $27.89.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IMOS shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chipmos Technologies in a research report on Wednesday, October 8th. Wall Street Zen upgraded Chipmos Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Chipmos Technologies Stock Performance

The stock’s 50 day moving average price is $21.03 and its 200 day moving average price is $19.03. The company has a current ratio of 2.29, a quick ratio of 1.97 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.06 billion, a PE ratio of 327.78 and a beta of 1.10.

Chipmos Technologies (NASDAQ:IMOS) last announced its quarterly earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.20. Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The firm had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $6.50 billion. During the same period in the prior year, the company earned $0.26 EPS. The firm’s revenue was up 1.3% on a year-over-year basis.

Chipmos Technologies announced that its Board of Directors has authorized a stock buyback program on Tuesday, September 2nd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in Chipmos Technologies by 35.4% in the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company’s stock valued at $941,000 after acquiring an additional 14,620 shares in the last quarter. Wealthquest Corp acquired a new position in shares of Chipmos Technologies during the first quarter worth $52,000. Acadian Asset Management LLC boosted its stake in shares of Chipmos Technologies by 14.5% in the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company’s stock valued at $4,206,000 after purchasing an additional 31,768 shares during the period. Ballentine Partners LLC grew its holdings in Chipmos Technologies by 110.7% during the 2nd quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock valued at $576,000 after purchasing an additional 16,707 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Chipmos Technologies by 27.0% during the 2nd quarter. Signaturefd LLC now owns 22,180 shares of the semiconductor company’s stock worth $402,000 after buying an additional 4,716 shares during the period. 7.39% of the stock is owned by institutional investors and hedge funds.

About Chipmos Technologies

ChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in the People’s Republic of China, Taiwan, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and Other Display Panel Driver Semiconductors; Bumping; and Others segments.