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

Chipmos Technologies (NASDAQ:IMOS) shares 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.

Analyst Upgrades and Downgrades

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

Chipmos Technologies Stock Performance

The stock has a 50 day moving average price of $61.22 and a two-hundred day moving average price of $56.86. The company has a current ratio of 2.39, a quick ratio of 1.94 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 34.87 and a beta of 1.24.

Chipmos Technologies (NASDAQ:IMOS) last posted its quarterly earnings results 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. Chipmos Technologies had a return on equity of 9.19% and a net margin of 8.30%. The business had revenue of $231.81 million for the quarter, compared to analyst estimates of $236.95 million. During the same period last year, the company earned ($0.51) EPS. The firm’s revenue was up 28.7% on a year-over-year basis.

Hedge Funds Weigh In On Chipmos Technologies

Several institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC grew its position in shares of Chipmos Technologies by 163.0% during the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock worth $29,000 after buying an additional 494 shares during the period. Kathmere Capital Management LLC bought a new stake in shares of Chipmos Technologies in the 1st quarter valued at about $204,000. Squarepoint Ops LLC acquired a new stake in shares of Chipmos Technologies in the 2nd quarter valued at approximately $235,000. Delphi Management Inc. MA acquired a new stake in shares of Chipmos Technologies in the 1st quarter valued at approximately $254,000. Finally, GAMMA Investing LLC raised its position in shares of Chipmos Technologies by 21.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,100 shares of the semiconductor company’s stock valued at $294,000 after acquiring an additional 737 shares during the period. 7.39% of the stock is currently owned by institutional investors and hedge funds.

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.