Chipmos Technologies (NASDAQ:IMOS) Shares Down 6.5% - Time to Sell?

Key Points

• Chipmos Technologies shares fell 6.5% to about $77.90 in Monday trading, with volume roughly 51% below the average daily level.
• Weiss Ratings upgraded the stock’s rating from “hold (c-)” to “hold (c),” while the sole tracked analyst maintained a Hold view.
• 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 but fell short of expectations.

Shares of Chipmos Technologies (NASDAQ:IMOS - Get Free Report) dropped 6.5% on Monday. The company traded as low as $78.05 and last traded at $77.8960. Approximately 41,621 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 84,625 shares. The stock had previously closed at $83.30.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Chipmos Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

Chipmos Technologies Trading Down 6.9%

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 company has a 50-day moving average price of $57.83 and a 200-day moving average price of $55.26. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 37.93 and a beta of 1.24.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. XY Capital Ltd acquired a new stake in Chipmos Technologies in the 2nd quarter worth $8,373,000. TD Waterhouse Canada Inc. acquired a new position in shares of Chipmos Technologies during the second quarter valued at about $517,000. Delphi Management Inc. MA acquired a new position in shares of Chipmos Technologies during the first quarter valued at about $254,000. Engineers Gate Manager LP acquired a new position in shares of Chipmos Technologies during the second quarter valued at about $373,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of Chipmos Technologies in the first quarter valued at about $204,000. 7.39% of the stock is currently owned by institutional investors and hedge funds.

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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