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

Chipmos Technologies (NASDAQ:IMOS) gapped down before the market opened on Monday . The stock had previously closed at $60.27, but opened at $57.92. Chipmos Technologies shares last traded at $57.2860, with a volume of 21,498 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a report on Friday, April 10th. Wall Street Zen downgraded Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Chipmos Technologies has a consensus rating of “Hold”.

Chipmos Technologies Stock Down 5.0%

The business’s 50 day simple moving average is $41.50 and its 200-day simple moving average is $34.49. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 133.12 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.08 and a current ratio of 2.40.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, February 24th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.12. Chipmos Technologies had a return on equity of 1.90% and a net margin of 1.88%.The firm had revenue of $207.78 million during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis.

Hedge Funds Weigh In On Chipmos Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake 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 during the last quarter. GAMMA Investing LLC raised its holdings in Chipmos Technologies by 14.3% during the fourth quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock valued at $97,000 after buying an additional 410 shares in the last quarter. Allworth Financial LP lifted its position in shares of Chipmos Technologies by 74.7% in the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after buying an additional 587 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Chipmos Technologies by 3.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock valued at $829,000 after acquiring an additional 830 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of Chipmos Technologies by 5.0% during the 4th quarter. Ballentine Partners LLC now owns 21,521 shares of the semiconductor company’s stock valued at $638,000 after acquiring an additional 1,028 shares during the last quarter. Institutional investors own 7.39% of the company’s stock.

About Chipmos Technologies

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.