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

Chipmos Technologies (NASDAQ:IMOS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $29.11, but opened at $30.00. Chipmos Technologies shares last traded at $30.0040, with a volume of 1,786 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on IMOS. Wall Street Zen raised Chipmos Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Chipmos Technologies in a research note on Monday, December 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Chipmos Technologies has a consensus rating of “Sell”.

Chipmos Technologies Trading Up 3.0%

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.97 and a current ratio of 2.29. The stock has a 50-day moving average of $23.58 and a two-hundred day moving average of $19.99. The company has a market cap of $1.06 billion, a P/E ratio of 187.41 and a beta of 1.06.

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

Chipmos Technologies announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 2nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of Chipmos Technologies by 5.9% during the second quarter. Acadian Asset Management LLC now owns 265,392 shares of the semiconductor company’s stock valued at $4,795,000 after buying an additional 14,697 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Chipmos Technologies by 2.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 71,140 shares of the semiconductor company’s stock valued at $1,361,000 after acquiring an additional 1,949 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Chipmos Technologies by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 57,091 shares of the semiconductor company’s stock valued at $1,034,000 after purchasing an additional 1,205 shares during the last quarter. 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 purchasing an additional 15,150 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Chipmos Technologies by 51.4% in the 2nd quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock worth $681,000 after purchasing an additional 12,759 shares in the last quarter. Institutional investors own 7.39% of the company’s stock.

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.