Acadian Asset Management LLC Purchases 31,768 Shares of Chipmos Technologies $IMOS

Key Points

• Acadian Asset Management LLC has increased its stake in Chipmos Technologies by 14.5%, acquiring an additional 31,768 shares and bringing its total ownership to 250,695 shares valued at approximately $4.21 million.
• Chipmos Technologies reported a loss of $0.51 EPS for the latest quarter, significantly below the analysts' expectation of $0.29 EPS, with revenues falling short at $188.55 million.
• The company's stock has experienced a slight decline of 0.1%, trading at $17.72, with a 12-month price range between $12.78 and $23.85.

Acadian Asset Management LLC boosted its position in Chipmos Technologies (NASDAQ:IMOS - Free Report) by 14.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 250,695 shares of the semiconductor company's stock after acquiring an additional 31,768 shares during the period. Acadian Asset Management LLC owned 0.69% of Chipmos Technologies worth $4,206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IMOS. Bank of America Corp DE raised its stake in Chipmos Technologies by 8.6% in the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company's stock valued at $162,000 after acquiring an additional 679 shares during the period. Wealthquest Corp bought a new stake in shares of Chipmos Technologies during the first quarter valued at about $52,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Chipmos Technologies by 35.4% during the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock valued at $941,000 after buying an additional 14,620 shares during the period. 7.39% of the stock is currently owned by institutional investors.

Chipmos Technologies Stock Down 0.1%

Shares of NASDAQ IMOS opened at $17.72 on Monday. Chipmos Technologies has a 12 month low of $12.78 and a 12 month high of $23.85. The company has a current ratio of 2.29, a quick ratio of 1.97 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $635.47 million, a price-to-earnings ratio of 196.89 and a beta of 1.02. The business has a 50-day moving average of $17.14 and a 200-day moving average of $17.58.

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

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Chipmos Technologies from a "sell" rating to a "hold" rating in a research report on Saturday.

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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