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

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped down before the market opened on Tuesday. The stock had previously closed at $75.19, but opened at $71.31. Chipmos Technologies shares last traded at $71.9420, with a volume of 16,072 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Chipmos Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Chipmos Technologies Trading Down 5.2%

The company has a quick ratio of 1.94, a current ratio of 2.39 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 34.87 and a beta of 1.24. The business’s fifty day moving average is $61.22 and its two-hundred day moving average is $56.86.

Chipmos Technologies (NASDAQ:IMOS) last posted its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.16. Chipmos Technologies had a net margin of 8.30% and a return on equity of 9.19%. The firm had revenue of $231.81 million during the quarter, compared to analysts’ expectations of $236.95 million. During the same quarter in the previous year, the company posted ($0.51) EPS. Chipmos Technologies’s revenue was up 28.7% on a year-over-year basis.

Institutional Investors Weigh In On Chipmos Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in Chipmos Technologies by 163.0% in the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 494 shares during the period. Kathmere Capital Management LLC bought a new stake in Chipmos Technologies during the 1st quarter worth about $204,000. Squarepoint Ops LLC bought a new stake in Chipmos Technologies during the 2nd quarter worth about $235,000. Delphi Management Inc. MA acquired a new position in Chipmos Technologies during the 1st quarter valued at about $254,000. Finally, GAMMA Investing LLC lifted its position in Chipmos Technologies by 21.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,100 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 737 shares during the period. Institutional investors own 7.39% of the company’s stock.

About Chipmos Technologies

ChipMOS Technologies Inc is a Taiwan-based semiconductor assembly and testing company that provides outsourced semiconductor packaging and testing services. The company supports integrated-circuit manufacturers and electronics companies by handling portions of the back-end semiconductor production process, including wafer testing, assembly, packaging, and final testing.

Its service and product offerings include packaging and testing for memory, logic, mixed-signal, and display driver integrated circuits.