Chipmos Technologies (NASDAQ:IMOS) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Chipmos Technologies shares traded above its 200-day moving average, reaching a high of $21.18 before closing at $20.89, indicating potential bullish momentum.
• Despite the recent price strength, analysts have mixed sentiments, with a majority rating the stock as a Sell, though there has been a recent upgrade to a Hold from one analyst.
• In its latest earnings report, Chipmos Technologies reported a net loss of ($0.51) per share, drastically missing expectations of $0.29 and reflecting a 1.3% decline in revenue year-over-year.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.74 and traded as high as $21.18. Chipmos Technologies shares last traded at $20.89, with a volume of 47,758 shares changing hands.

Wall Street Analysts Forecast Growth

IMOS has been the topic of several recent research reports. Weiss Ratings reissued a "sell (d)" rating on shares of Chipmos Technologies in a research note on Wednesday. Wall Street Zen raised Chipmos Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

Chipmos Technologies Trading Up 3.6%

The company has a debt-to-equity ratio of 0.39, a current ratio of 2.29 and a quick ratio of 1.97. The business has a 50-day moving average of $17.76 and a 200-day moving average of $17.74. The firm has a market cap of $749.12 million, a price-to-earnings ratio of 232.11 and a beta of 1.08.

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

Chipmos Technologies declared that its Board of Directors has authorized a share repurchase program on Tuesday, September 2nd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Chipmos Technologies by 131.7% during the third quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company's stock worth $55,000 after buying an additional 1,629 shares during the last quarter. Bank of America Corp DE increased its position in Chipmos Technologies by 71.8% during the second quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company's stock worth $215,000 after buying an additional 4,952 shares during the last quarter. Rhumbline Advisers increased its position in Chipmos Technologies by 51.4% during the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company's stock worth $681,000 after buying an additional 12,759 shares during the last quarter. Creative Planning increased its position in Chipmos Technologies by 50.3% during the second quarter. Creative Planning now owns 45,283 shares of the semiconductor company's stock worth $820,000 after buying an additional 15,150 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Chipmos Technologies by 5.9% during the second quarter. Acadian Asset Management LLC now owns 265,392 shares of the semiconductor company's stock worth $4,795,000 after acquiring an additional 14,697 shares during the period. Institutional investors and hedge funds own 7.39% of the company's stock.

About Chipmos Technologies

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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