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

Key Points

• Chipmos Technologies shares opened sharply higher, rising from a prior close of $57.51 to $60.60 and recently trading near $61.56.
• The company’s latest quarterly results were mixed: EPS of $0.80 beat estimates of $0.64, while revenue of $231.81 million fell short of the $236.95 million forecast but increased 28.7% year over year.
• Analyst sentiment remains cautious, with the stock carrying a consensus Hold rating; Weiss Ratings slightly upgraded its view from “hold (c)” to “hold (c+).”

Shares of Chipmos Technologies (NASDAQ:IMOS - Get Free Report) gapped up before the market opened on Wednesday. The stock had previously closed at $57.51, but opened at $60.60. Chipmos Technologies shares last traded at $61.5550, with a volume of 1,443 shares trading hands.

Analyst Ratings Changes

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 analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Chipmos Technologies Price Performance

The firm has a market capitalization of $2.15 billion, a PE ratio of 29.86 and a beta of 1.24. The company has a fifty day moving average of $62.71 and a 200-day moving average of $52.37.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $236.95 million. Chipmos Technologies's revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) earnings per share.

Institutional Trading of Chipmos Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. XY Capital Ltd bought a new stake in shares of Chipmos Technologies during the 2nd quarter worth about $8,373,000. Dimensional Fund Advisors LP grew its holdings in Chipmos Technologies by 0.4% during the first 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 last quarter. TD Waterhouse Canada Inc. grew its holdings in Chipmos Technologies by 2.8% during the third 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 last quarter. Engineers Gate Manager LP acquired a new position in Chipmos Technologies during the second quarter valued at approximately $373,000. Finally, Foster Group Inc. bought a new position in shares of Chipmos Technologies in the second quarter valued at approximately $339,000. Institutional investors and hedge funds own 7.39% of the company's stock.

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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