Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Should You Buy?

Chipmos Technologies (NASDAQ:IMOS) gapped up before the market opened on Thursday. The stock had previously closed at $67.37, but opened at $69.99. Chipmos Technologies shares last traded at $70.4730, with a volume of 10,917 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Chipmos Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Chipmos Technologies presently has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The stock’s 50-day moving average is $56.63 and its 200 day moving average is $53.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.39 and a quick ratio of 1.98. The company has a market cap of $2.53 billion, a PE ratio of 35.10 and a beta of 1.34.

Chipmos Technologies (NASDAQ:IMOS) last announced its earnings results on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.16. The company had revenue of $231.81 million during the quarter, compared to the consensus estimate of $236.95 million. Chipmos Technologies had a net margin of 8.30% and a return on equity of 9.19%. Chipmos Technologies’s revenue was up 28.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.51) earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMOS. XY Capital Ltd acquired a new position in Chipmos Technologies during the 2nd quarter valued at about $8,373,000. Dimensional Fund Advisors LP boosted its holdings in Chipmos Technologies by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock worth $3,301,000 after acquiring an additional 335 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Chipmos Technologies during the second quarter worth about $517,000. Engineers Gate Manager LP purchased a new stake in shares of Chipmos Technologies during the second quarter worth about $373,000. Finally, Foster Group Inc. acquired a new position in shares of Chipmos Technologies during the second quarter valued at about $339,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

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 other electronics companies by handling various stages of semiconductor production after wafer fabrication.

Its services include wafer probing and sorting, wafer bumping, assembly, final testing, burn-in and related engineering services. ChipMOS works with a range of semiconductor products, including memory devices, display driver integrated circuits, logic and mixed-signal chips, and other consumer and communications-related components.

Founded in 1997, ChipMOS serves customers in the global semiconductor industry through operations centered in Taiwan, with additional international business relationships and support capabilities.