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

Key Points

• Chipmos Technologies shares gapped down from a previous close of $19.58 to open at $19.14, reflecting a significant market movement.
• Wall Street analyst ratings changed from a "sell" to a "hold," potentially indicating a more favorable outlook for the company's stock.
• The company reported a loss of ($0.51) EPS, missing analysts’ expectations by a substantial margin, while revenue decreased 1.3% year-over-year.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $19.58, but opened at $19.14. Chipmos Technologies shares last traded at $19.16, with a volume of 10,856 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Chipmos Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th.

Chipmos Technologies Trading Up 1.3%

The company has a market capitalization of $685.28 million, a P/E ratio of 212.33 and a beta of 1.03. The business has a fifty day moving average price of $17.35 and a 200 day moving average price of $17.64. The company has a quick ratio of 1.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.39.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The semiconductor company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.80). The firm had revenue of $188.55 million during the quarter, compared to the consensus estimate of $5.82 billion. Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share.

Chipmos Technologies announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 2nd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of Chipmos Technologies

Several institutional investors and hedge funds have recently bought and sold shares of IMOS. Bank of America Corp DE raised its holdings in Chipmos Technologies by 8.6% during the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company's stock worth $162,000 after acquiring an additional 679 shares in the last quarter. Wealthquest Corp bought a new stake in Chipmos Technologies during the first quarter worth about $52,000. Envestnet Asset Management Inc. raised its holdings in Chipmos Technologies by 35.4% during the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock worth $941,000 after acquiring an additional 14,620 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Chipmos Technologies by 14.5% during the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company's stock worth $4,206,000 after acquiring an additional 31,768 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in Chipmos Technologies by 110.7% during the second quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company's stock worth $576,000 after acquiring an additional 16,707 shares in the last quarter. Institutional investors own 7.39% of the company's stock.

Chipmos Technologies Company Profile

ChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in the People's Republic of China, Taiwan, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and Other Display Panel Driver Semiconductors; Bumping; and Others segments.

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