Chipmos Technologies (NASDAQ:IMOS) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 78.1% in April to 37,185 shares as of April 15, equal to 0.1% of shares outstanding and a days-to-cover ratio of 0.8 based on average daily volume.
• Shares fell 6.0% to $42.89 on Monday; the company has a market cap of $1.51 billion, a price-to-earnings ratio of 99.76, and a 52-week range of $15.06–$51.08.
• ChipMOS beat quarterly EPS estimates ($0.46 vs. $0.34) with revenue up 26.2% year-over-year, but analysts’ consensus remains a Hold amid mixed ratings.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 37,185 shares, an increase of 78.1% from the March 31st total of 20,881 shares. Currently, 0.1% of the company's shares are short sold. Based on an average daily trading volume, of 47,387 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Ratings Changes

A number of research analysts recently issued reports on IMOS shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chipmos Technologies in a research report on Friday, April 10th. Wall Street Zen raised shares of Chipmos Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Chipmos Technologies Stock Down 6.0%

Shares of NASDAQ:IMOS traded down $2.72 during trading on Monday, reaching $42.89. 19,979 shares of the stock were exchanged, compared to its average volume of 51,534. Chipmos Technologies has a 1-year low of $15.06 and a 1-year high of $51.08. The stock has a fifty day moving average of $39.55 and a two-hundred day moving average of $33.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 99.76 and a beta of 1.04.

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

Institutional Investors Weigh In On Chipmos Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP lifted its position in Chipmos Technologies by 74.7% in the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 587 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Chipmos Technologies by 16,828.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 1,178 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Chipmos Technologies by 125.5% in the third quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 1,204 shares during the last quarter. Smartleaf Asset Management LLC purchased a new stake in shares of Chipmos Technologies in the fourth quarter worth approximately $54,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Chipmos Technologies by 14.3% in the fourth quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company's stock valued at $97,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 7.39% of the company's stock.

Chipmos Technologies Company Profile

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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