Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up - Here's Why

Key Points

• Shares gapped up pre-market, opening at $46.65 versus the prior close of $43.49 and last trading around $46.87, reflecting roughly a mid-single-digit percentage gain.
• Analyst activity: Wall Street Zen upgraded ChipMOS to a "strong-buy" while Weiss Ratings maintained a "hold (c-)", leaving the stock's consensus rating at "Hold".
• Quarterly results: ChipMOS reported $0.46 EPS versus $0.34 expected and revenue of $207.8M (up 26.2% year-over-year), though margins and returns remain modest and the stock trades at a high P/E (~107).

Shares of Chipmos Technologies (NASDAQ:IMOS - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $43.49, but opened at $46.65. Chipmos Technologies shares last traded at $46.8710, with a volume of 15,689 shares.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Chipmos Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Weiss Ratings restated a "hold (c-)" rating on shares of Chipmos Technologies in a research note on Friday, April 10th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

Chipmos Technologies Stock Up 6.0%

The company's 50 day moving average price is $38.61 and its two-hundred day moving average price is $32.30. The company has a current ratio of 2.40, a quick ratio of 2.08 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.62 billion, a P/E ratio of 107.19 and a beta of 1.04.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping 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 firm had revenue of $207.78 million for the quarter, compared to analysts' expectations of $6.50 billion. During the same quarter in the prior year, the business earned $0.19 EPS. The business's quarterly revenue was up 26.2% on a year-over-year basis.

Institutional Investors Weigh In On Chipmos Technologies

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in shares of 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 valued at $35,000 after acquiring an additional 1,178 shares during the period. Allworth Financial LP grew its position in shares of Chipmos Technologies by 74.7% during 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 during the period. Smartleaf Asset Management LLC bought a new stake in shares of Chipmos Technologies during the 4th quarter valued at $54,000. Westside Investment Management Inc. raised its stake in 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 acquiring an additional 1,204 shares during the period. Finally, GAMMA Investing LLC raised its stake in Chipmos Technologies by 131.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company's stock worth $55,000 after acquiring an additional 1,629 shares during the period. Institutional investors 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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