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

Chipmos Technologies (NASDAQ:IMOS) gapped up before the market opened on Monday. The stock had previously closed at $43.78, but opened at $46.40. Chipmos Technologies shares last traded at $47.2940, with a volume of 9,076 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Chipmos Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Chipmos Technologies Price Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.94 and a current ratio of 2.39. The company has a market capitalization of $1.67 billion, a P/E ratio of 23.11 and a beta of 1.34. The firm’s fifty day moving average is $62.31 and its 200 day moving average is $52.92.

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

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds have recently bought and sold shares of the business. XY Capital Ltd bought a new stake in shares of Chipmos Technologies during the second quarter worth $8,373,000. Dimensional Fund Advisors LP grew its holdings in shares of Chipmos Technologies by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock worth $3,301,000 after purchasing an additional 335 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Chipmos Technologies in the 3rd quarter worth about $867,000. Ritholtz Wealth Management increased its stake in Chipmos Technologies by 4.0% in the 3rd quarter. Ritholtz Wealth Management now owns 9,309 shares of the semiconductor company’s stock worth $668,000 after buying an additional 360 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in Chipmos Technologies by 2.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 8,201 shares of the semiconductor company’s stock worth $593,000 after buying an additional 224 shares during the period. Institutional investors own 7.39% of the company’s stock.

About Chipmos Technologies

ChipMOS Technologies Inc (NASDAQ: IMOS) is a semiconductor assembly and testing services provider. The company operates in the outsourced semiconductor assembly and test (OSAT) industry, supporting integrated-circuit manufacturers and other customers with back-end semiconductor production services.

Its services include wafer probing and sorting, wafer bumping, semiconductor assembly, final testing, and related engineering and production support. ChipMOS serves a range of semiconductor applications, including memory products, display driver integrated circuits, logic and mixed-signal devices, and other components used in consumer electronics, communications equipment, and computing products.

ChipMOS is headquartered in Taiwan and has developed its manufacturing and testing operations in Taiwan and other parts of Asia.