Chipmos Technologies (NASDAQ:IMOS) Hits New 12-Month High - Here's What Happened

Key Points

• Chipmos Technologies shares reached a new 52-week high, trading as high as $78.45 and last at $79.66, up from the previous close of $72.68.
• The company reported quarterly EPS of $0.80, beating estimates of $0.64, while revenue rose 28.7% year over year to $231.81 million, though it fell short of the $236.95 million consensus forecast.
• Analyst sentiment remains neutral, with Weiss Ratings upgrading the stock within its “Hold” category and MarketBeat reporting a consensus “Hold” rating; institutional investors own 7.39% of shares.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $78.45 and last traded at $79.66, with a volume of 14760 shares trading hands. The stock had previously closed at $72.68.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Chipmos Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Chipmos Technologies Price Performance

The company has a quick ratio of 1.94, a current ratio of 2.39 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.84 billion, a PE ratio of 39.25 and a beta of 1.24. The company has a 50-day moving average of $57.26 and a 200 day moving average of $54.96.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.16. The business had revenue of $231.81 million for the quarter, compared to the consensus estimate of $236.95 million. Chipmos Technologies had a net margin of 8.30% and a return on equity of 9.19%. The business's revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.51) EPS.

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC grew its position in shares of Chipmos Technologies by 163.0% in the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 494 shares during the period. Squarepoint Ops LLC purchased a new stake in Chipmos Technologies in the second quarter valued at approximately $235,000. Foster Group Inc. purchased a new stake in shares of Chipmos Technologies during the 2nd quarter valued at $339,000. Kathmere Capital Management LLC purchased a new stake in Chipmos Technologies during the first quarter worth approximately $204,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Chipmos Technologies during the second quarter valued at approximately $373,000. 7.39% of the stock is owned by hedge funds and other institutional investors.

About Chipmos Technologies

ChipMOS Technologies Inc is a Taiwan-based semiconductor assembly and testing company that provides outsourced semiconductor packaging and testing services. The company supports integrated-circuit manufacturers and electronics companies by handling portions of the back-end semiconductor production process, including wafer testing, assembly, packaging, and final testing.

Its service and product offerings include packaging and testing for memory, logic, mixed-signal, and display driver integrated circuits.

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