Chipmos Technologies (NASDAQ:IMOS) Sees Strong Trading Volume - Time to Buy?

Key Points

• Trading volume spike: Shares jumped 61% to 73,776 traded on Thursday while the stock traded around $36.43, roughly a 0.6% intraday gain.
• Earnings beat but thin margins: ChipMOS reported EPS of $0.46 versus $0.34 expected and revenue rose 26.2% year-over-year, yet net margin was only 1.88% and the stock trades at a high PE of 83.97.
• Mixed analyst view and modest institutional ownership: One firm upgraded to "strong-buy" but the consensus is a "Hold," and institutional investors own about 7.4% of the stock with several funds modestly increasing positions.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) shares saw an uptick in trading volume on Thursday . 73,776 shares were traded during trading, an increase of 61% from the previous session's volume of 45,899 shares.The stock last traded at $36.43 and had previously closed at $35.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen raised Chipmos Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 7th. Weiss Ratings upgraded Chipmos Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Chipmos Technologies presently has an average rating of "Hold".

Chipmos Technologies Stock Up 0.6%

The company has a current ratio of 2.47, a quick ratio of 2.12 and a debt-to-equity ratio of 0.42. The business's 50-day simple moving average is $37.89 and its 200-day simple moving average is $30.25. The company has a market capitalization of $1.27 billion, a PE ratio of 83.97 and a beta of 1.04.

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

Hedge Funds Weigh In On Chipmos Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new position in Chipmos Technologies during the third quarter valued at approximately $290,000. Westside Investment Management Inc. grew its stake in shares of Chipmos Technologies by 125.5% during the 3rd 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 period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Chipmos Technologies by 2.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 71,140 shares of the semiconductor company's stock valued at $1,361,000 after purchasing an additional 1,949 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Chipmos Technologies by 131.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 1,629 shares in the last quarter. Finally, XY Capital Ltd acquired a new position in shares of Chipmos Technologies in the 4th quarter valued at $314,000. Institutional investors and hedge funds 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.

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