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

Key Points

• Chipmos Technologies shares fell 10%, opening at $57.55 versus the prior close of $62.34 and later trading near $57.01.
• Analyst sentiment remains neutral: Weiss Ratings raised its assessment from “hold (c)” to “hold (c+),” while the broader consensus remains “Hold.”
• The company reported quarterly EPS of $0.80, beating estimates of $0.64, while revenue increased 28.7% year over year to $231.81 million but fell short of analyst expectations.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s share price gapped down before the market opened on Thursday. The stock had previously closed at $62.34, but opened at $57.55. Chipmos Technologies shares last traded at $57.0110, with a volume of 8,572 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Chipmos Technologies from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat.com, Chipmos Technologies presently has a consensus rating of "Hold".

Chipmos Technologies Trading Down 10.0%

The company's fifty day simple moving average is $62.74 and its two-hundred day simple moving average is $58.26. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 27.43 and a beta of 1.24. 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 results on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.16. Chipmos Technologies had a net margin of 8.30% and a return on equity of 9.19%. The company had revenue of $231.81 million during the quarter, compared to analyst estimates of $236.95 million. During the same quarter in the previous year, the business earned ($0.51) EPS. The firm's revenue was up 28.7% on a year-over-year basis.

Institutional Investors Weigh In On Chipmos Technologies

Several institutional investors have recently added to or reduced their stakes in IMOS. XY Capital Ltd acquired a new position in Chipmos Technologies in the 2nd quarter worth $8,373,000. Dimensional Fund Advisors LP raised its stake in shares of Chipmos Technologies by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company's stock valued at $3,301,000 after purchasing an additional 335 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Chipmos Technologies by 2.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 8,201 shares of the semiconductor company's stock valued at $593,000 after purchasing an additional 224 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Chipmos Technologies in the 2nd quarter valued at about $373,000. Finally, Foster Group Inc. bought a new stake in shares of Chipmos Technologies in the second quarter valued at about $339,000. 7.39% of the stock is owned by institutional investors.

About Chipmos Technologies

ChipMOS Technologies Inc NASDAQ: IMOS is a semiconductor assembly and testing services provider. The company operates in the outsourced semiconductor assembly and test (OSAT) industry, supporting integrated-circuit manufacturers and other customers with back-end semiconductor production services.

Its services include wafer probing and sorting, wafer bumping, semiconductor assembly, final testing, and related engineering and production support. ChipMOS serves a range of semiconductor applications, including memory products, display driver integrated circuits, logic and mixed-signal devices, and other components used in consumer electronics, communications equipment, and computing products.

ChipMOS is headquartered in Taiwan and has developed its manufacturing and testing operations in Taiwan and other parts of Asia.

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