Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down - What's Next?

Key Points

• Chipmos Technologies shares gapped down from a prior close of $71.58 to open at $67.96, later trading near $68.01 on volume of 20,846 shares.
• Analyst sentiment remains neutral: Weiss Ratings upgraded the stock’s rating from “hold (c-)” to “hold (c),” while the overall consensus rating is “Hold.”
• The company beat quarterly EPS expectations, reporting $0.80 versus the $0.64 estimate, while revenue reached $231.81 million and increased 28.7% year over year.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) shares gapped down prior to trading on Tuesday. The stock had previously closed at $71.58, but opened at $67.96. Chipmos Technologies shares last traded at $68.01, with a volume of 20,846 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded 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 data from MarketBeat, Chipmos Technologies currently has a consensus rating of "Hold".

Chipmos Technologies Price Performance

The company's fifty day moving average is $56.80 and its two-hundred day moving average is $54.28. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 33.30 and a beta of 1.34. The company has a quick ratio of 1.94, a current ratio of 2.39 and a debt-to-equity ratio of 0.45.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $231.81 million for the quarter, compared to analysts' expectations 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 for the quarter was up 28.7% on a year-over-year basis. During the same period last year, the firm earned ($0.51) earnings per share.

Institutional Investors Weigh In On Chipmos Technologies

Institutional investors have recently made changes to their positions in the stock. XY Capital Ltd bought a new position in shares of Chipmos Technologies during the 2nd quarter worth approximately $8,373,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Chipmos Technologies in the second quarter valued at approximately $517,000. Delphi Management Inc. MA bought a new stake in shares of Chipmos Technologies in the first quarter worth $254,000. Engineers Gate Manager LP bought a new stake in shares of Chipmos Technologies in the second quarter worth $373,000. Finally, Kathmere Capital Management LLC acquired a new position in Chipmos Technologies during the first quarter worth $204,000. 7.39% of the stock is 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 other electronics companies by handling various stages of semiconductor production after wafer fabrication.

Its services include wafer probing and sorting, wafer bumping, assembly, final testing, burn-in and related engineering services. ChipMOS works with a range of semiconductor products, including memory devices, display driver integrated circuits, logic and mixed-signal chips, and other consumer and communications-related components.

Founded in 1997, ChipMOS serves customers in the global semiconductor industry through operations centered in Taiwan, with additional international business relationships and support capabilities.

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