Chipmos Technologies (NASDAQ:IMOS) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Chipmos Technologies (NASDAQ:IMOS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.83 and traded as high as $20.38. Chipmos Technologies shares last traded at $20.32, with a volume of 5,841 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IMOS shares. Wall Street Zen upgraded shares of Chipmos Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chipmos Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Chipmos Technologies Trading Up 2.4%

The firm has a market capitalization of $728.72 million, a PE ratio of 225.78 and a beta of 1.08. The company’s 50-day simple moving average is $18.03 and its 200 day simple moving average is $17.83. The company has a quick ratio of 1.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.39.

Chipmos Technologies (NASDAQ:IMOS) last posted 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). Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The company had revenue of $188.55 million for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the company earned $0.38 EPS. The business’s revenue was down 1.3% compared to the same quarter last year.

Chipmos Technologies declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 2nd that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC increased its holdings in Chipmos Technologies by 5.9% in the 2nd quarter. Acadian Asset Management LLC now owns 265,392 shares of the semiconductor company’s stock worth $4,795,000 after buying an additional 14,697 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Chipmos Technologies by 66.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 69,191 shares of the semiconductor company’s stock worth $1,253,000 after buying an additional 27,617 shares during the period. Envestnet Asset Management Inc. increased its holdings in Chipmos Technologies by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 57,091 shares of the semiconductor company’s stock worth $1,034,000 after buying an additional 1,205 shares during the period. Creative Planning increased its holdings in Chipmos Technologies by 50.3% in the 2nd quarter. Creative Planning now owns 45,283 shares of the semiconductor company’s stock worth $820,000 after buying an additional 15,150 shares during the period. Finally, Rhumbline Advisers increased its holdings in 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 buying an additional 12,759 shares during the period. 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.