Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Time to Sell?

Chipmos Technologies (NASDAQ:IMOS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $44.66, but opened at $43.14. Chipmos Technologies shares last traded at $41.8990, with a volume of 25,335 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Wall Street Zen lowered Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The business has a 50-day moving average price of $30.67 and a two-hundred day moving average price of $22.86. 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 capitalization of $1.51 billion, a price-to-earnings ratio of 267.69 and a beta of 1.04.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Allworth Financial LP grew its holdings in Chipmos Technologies by 74.7% during the third 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. Westside Investment Management Inc. grew its stake in shares of Chipmos Technologies by 125.5% in the 3rd quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 1,204 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Chipmos Technologies by 131.7% during the third quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 1,629 shares in the last quarter. Parallel Advisors LLC grew its position in Chipmos Technologies by 44.4% in the 3rd quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Chipmos Technologies by 71.8% in the 2nd quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 4,952 shares during the period. Institutional investors 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.