Chipmos Technologies (NASDAQ:IMOS) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Chipmos Technologies (NASDAQ:IMOS) released its quarterly earnings data on Tuesday. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.20, Zacks reports. Chipmos Technologies had a return on equity of 0.47% and a net margin of 0.50%.Chipmos Technologies’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS.

Chipmos Technologies Trading Down 1.7%

Shares of NASDAQ:IMOS opened at $22.10 on Wednesday. The stock’s 50-day simple moving average is $19.92 and its two-hundred day simple moving average is $18.62. The stock has a market capitalization of $792.55 million, a price-to-earnings ratio of 245.56 and a beta of 1.10. Chipmos Technologies has a 52-week low of $12.78 and a 52-week high of $23.78. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.97 and a current ratio of 2.29.

Chipmos Technologies declared that its board has authorized a share repurchase plan on Tuesday, September 2nd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Chipmos Technologies

An institutional investor recently raised its position in Chipmos Technologies stock. Bank of America Corp DE lifted its stake in shares of Chipmos Technologies (NASDAQ:IMOS) by 71.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,852 shares of the semiconductor company’s stock after acquiring an additional 4,952 shares during the quarter. Bank of America Corp DE’s holdings in Chipmos Technologies were worth $215,000 at the end of the most recent reporting period. Institutional investors own 7.39% of the company’s stock.

Chipmos Technologies Company Profile

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.