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

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $57.51, but opened at $60.60. Chipmos Technologies shares last traded at $61.5550, with a volume of 1,443 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Chipmos Technologies from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Chipmos Technologies currently has an average rating of “Hold”.

Chipmos Technologies Stock Performance

The company’s 50 day moving average is $62.71 and its 200 day moving average is $52.37. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 29.86 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. The company had revenue of $231.81 million during the quarter, compared to analyst estimates of $236.95 million. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The business’s revenue for the quarter was up 28.7% on a year-over-year basis.

Hedge Funds Weigh In On Chipmos Technologies

Several large investors have recently added to or reduced their stakes in the company. XY Capital Ltd acquired a new position in Chipmos Technologies in the 2nd quarter valued at approximately $8,373,000. Dimensional Fund Advisors LP grew its holdings in shares of Chipmos Technologies by 0.4% during the 1st 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 in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Chipmos Technologies by 2.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 8,201 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 224 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Chipmos Technologies during the second quarter valued at approximately $373,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of Chipmos Technologies during the first quarter valued at approximately $204,000. Institutional investors and hedge funds own 7.39% of the company’s stock.

Chipmos Technologies Company Profile

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.