Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up - Should You Buy?

Key Points

• Chipmos Technologies shares jumped: The stock opened at $71.74 versus a prior close of $67.76 and last traded near $71.83.
• Quarterly results beat expectations: Earnings were $0.80 per share, above the $0.64 consensus estimate, while revenue rose 28.7% year over year to $231.81 million, though it missed estimates.
• Analyst sentiment remains cautious: Weiss Ratings upgraded the stock from “hold (c-)” to “hold (c),” and the company’s overall analyst rating remains “Hold.” Institutional investors own 7.39% of shares.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) shares gapped up before the market opened on Wednesday. The stock had previously closed at $67.76, but opened at $71.74. Chipmos Technologies shares last traded at $71.8260, with a volume of 18,817 shares.

Wall Street Analyst Weigh In

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 investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".

Chipmos Technologies Stock 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 fifty day moving average price of $56.83 and a 200-day moving average price of $54.47. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 35.20 and a beta of 1.34.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $231.81 million during the quarter, compared to the consensus estimate of $236.95 million. During the same period last year, the company earned ($0.51) earnings per share. The company's revenue for the quarter was up 28.7% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IMOS. Engineers Gate Manager LP acquired a new stake in Chipmos Technologies in the second quarter valued at about $373,000. Squarepoint Ops LLC acquired a new position in Chipmos Technologies during the 2nd quarter worth approximately $235,000. XY Capital Ltd acquired a new position in Chipmos Technologies during the 2nd quarter worth approximately $8,373,000. TD Waterhouse Canada Inc. purchased a new position in shares of Chipmos Technologies during the 2nd quarter worth approximately $517,000. Finally, Foster Group Inc. purchased a new position in shares of Chipmos Technologies during the 2nd quarter worth approximately $339,000. 7.39% of the stock is currently owned by institutional investors and hedge funds.

Chipmos Technologies Company Profile

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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