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

Chipmos Technologies (NASDAQ:IMOS) shares gapped down before the market opened on Monday . The stock had previously closed at $19.58, but opened at $19.14. Chipmos Technologies shares last traded at $19.16, with a volume of 10,856 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Chipmos Technologies from a “sell” rating to a “hold” rating in a report on Saturday, September 13th.

Chipmos Technologies Stock Up 1.3%

The company has a quick ratio of 1.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $17.35 and a 200-day simple moving average of $17.64. The stock has a market cap of $685.28 million, a P/E ratio of 212.33 and a beta of 1.03.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, August 12th. The semiconductor company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.80). The business had revenue of $188.55 million during the quarter, compared to the consensus estimate of $5.82 billion. Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. Chipmos Technologies’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS.

Chipmos Technologies declared that its board has approved a stock 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 buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Several institutional investors and hedge funds have recently made changes to their positions in IMOS. Wealthquest Corp acquired a new position in shares of Chipmos Technologies in the first quarter valued at approximately $52,000. Bank of America Corp DE grew its position in shares of Chipmos Technologies by 8.6% in the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 679 shares during the last quarter. Signaturefd LLC grew its position in shares of Chipmos Technologies by 27.0% in the second quarter. Signaturefd LLC now owns 22,180 shares of the semiconductor company’s stock valued at $402,000 after purchasing an additional 4,716 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Chipmos Technologies by 110.7% in the second quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock valued at $576,000 after purchasing an additional 16,707 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Chipmos Technologies by 51.4% in the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after purchasing an additional 12,759 shares during the last quarter. Institutional investors and hedge funds 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.