Chipmos Technologies $IMOS Shares Purchased by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC increased its stake in Chipmos Technologies by 110.7% during Q2, acquiring an additional 16,707 shares to own approximately 0.09% of the company, worth $576,000.
• Chipmos Technologies recently reported a net loss of ($0.51) earnings per share for the last quarter, missing consensus estimates and showing a revenue decline of 1.3% year-over-year.
• Wall Street Zen upgraded Chipmos Technologies from a "sell" rating to a "hold" rating, signaling some confidence in the stock amidst its recent performance dip.

Ballentine Partners LLC boosted its stake in Chipmos Technologies (NASDAQ:IMOS - Free Report) by 110.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,793 shares of the semiconductor company's stock after buying an additional 16,707 shares during the quarter. Ballentine Partners LLC owned approximately 0.09% of Chipmos Technologies worth $576,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its position in shares of Chipmos Technologies by 14.5% in the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company's stock valued at $4,206,000 after acquiring an additional 31,768 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Chipmos Technologies by 35.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock worth $941,000 after purchasing an additional 14,620 shares in the last quarter. Wealthquest Corp acquired a new position in Chipmos Technologies in the 1st quarter valued at about $52,000. Finally, Bank of America Corp DE lifted its holdings 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 purchasing an additional 679 shares in the last quarter. Hedge funds and other institutional investors own 7.39% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Chipmos Technologies from a "sell" rating to a "hold" rating in a report on Saturday, September 13th.

Chipmos Technologies Stock Down 3.7%

IMOS opened at $18.86 on Friday. Chipmos Technologies has a 12 month low of $12.78 and a 12 month high of $23.85. The business has a 50-day moving average of $17.35 and a two-hundred day moving average of $17.65. 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 stock has a market capitalization of $676.36 million, a price-to-earnings ratio of 209.56 and a beta of 1.02.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The semiconductor company reported ($0.51) earnings per share 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 company had revenue of $188.55 million for the quarter, compared to analysts' expectations of $5.82 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The company's revenue was down 1.3% on a year-over-year basis.

Chipmos Technologies declared that its Board of Directors has authorized a share buyback plan on Tuesday, September 2nd that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Chipmos Technologies 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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