Chipmos Technologies (NASDAQ:IMOS) Downgraded by Wall Street Zen to "Buy"

Key Points

• Chipmos Technologies was downgraded by Wall Street Zen from “strong-buy” to “buy”, while Weiss Ratings reiterated a hold view. MarketBeat says the overall consensus rating on the stock remains Hold.
• The stock was up 1.4% and opened at $60.27, near its 52-week high of $61.27. Chipmos now has a market cap of about $2.12 billion and has traded well above its 50-day and 200-day moving averages.
• In its latest earnings report, Chipmos beat earnings estimates with $0.46 EPS versus the expected $0.34, and revenue rose 26.2% year over year. The company also reported solid liquidity with a quick ratio of 2.08 and a current ratio of 2.40.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat, Chipmos Technologies currently has a consensus rating of "Hold".

Chipmos Technologies Stock Up 1.4%

Shares of IMOS opened at $60.27 on Friday. Chipmos Technologies has a 52-week low of $15.06 and a 52-week high of $61.27. The company has a market capitalization of $2.12 billion, a PE ratio of 140.16 and a beta of 1.16. The stock has a fifty day simple moving average of $41.50 and a two-hundred day simple moving average of $34.49. 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 - Get Free Report) last issued its earnings results on Tuesday, February 24th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $207.78 million during the quarter, compared to the consensus estimate of $6.50 billion. During the same period last year, the company earned $0.19 EPS. The company's revenue for the quarter was up 26.2% on a year-over-year basis.

Institutional Trading of Chipmos Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position 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. Vanguard Personalized Indexing Management LLC increased its position in shares of Chipmos Technologies by 3.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 73,380 shares of the semiconductor company's stock worth $2,175,000 after purchasing an additional 2,240 shares during the last quarter. Rhumbline Advisers increased its position in shares of Chipmos Technologies by 51.4% during 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. Goldman Sachs Group Inc. increased its position 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 worth $829,000 after purchasing an additional 830 shares during the last quarter. Finally, Ballentine Partners LLC increased its position 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 worth $638,000 after purchasing an additional 1,028 shares during the last quarter. 7.39% of the stock is owned by institutional investors and hedge funds.

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.

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