Chipmos Technologies (NASDAQ:IMOS) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $37.37 and traded as high as $55.45. Chipmos Technologies shares last traded at $55.23, with a volume of 80,545 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IMOS. Wall Street Zen lowered shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Chipmos Technologies presently has a consensus rating of “Hold”.

Chipmos Technologies Trading Up 8.3%

The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 75.14 and a beta of 1.16. The firm’s 50 day moving average is $44.81 and its two-hundred day moving average is $37.37. The company has a quick ratio of 2.08, a current ratio of 2.40 and a debt-to-equity ratio of 0.44.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, February 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.12. The firm had revenue of $207.78 million for the quarter, compared to analyst estimates of $6.50 billion. Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. Chipmos Technologies’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share.

Institutional Investors Weigh In On Chipmos Technologies

Several institutional investors and hedge funds have recently bought and sold shares of IMOS. ABC Arbitrage SA bought a new position in Chipmos Technologies in the 3rd quarter worth about $290,000. Rhumbline Advisers grew its position 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 purchasing an additional 12,759 shares during the last quarter. Quadrant Capital Group LLC bought a new position in Chipmos Technologies in the 3rd quarter worth about $219,000. XY Capital Ltd bought a new position in Chipmos Technologies in the 4th quarter worth about $314,000. Finally, RBF Capital LLC bought a new position in Chipmos Technologies in the 4th quarter worth about $266,000. Institutional investors and hedge funds own 7.39% of the company’s stock.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc is a Taiwan‐based provider of outsourced semiconductor assembly, testing and packaging services. The company offers a comprehensive range of back‐end solutions including wafer probing, assembly, surface mount and final test services for memory chips, microcontrollers, system‐on‐chips and other integrated circuits. ChipMOS serves customers in the consumer electronics, communications, industrial and automotive markets by delivering reliable testing and packaging support to semiconductor fabless companies and foundries.

Founded in 1997 and headquartered in Hsinchu, Taiwan, ChipMOS operates multiple production facilities across Asia, including sites in Taoyuan (Taiwan), Guangdong Province (China) and Singapore.