Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up - Time to Buy?

Key Points

• Chipmos Technologies shares rose 3.6%, opening at $69.99 versus a prior close of $67.37 and trading near $70.47.
• The company reported quarterly EPS of $0.80, beating the $0.64 consensus estimate, while revenue increased 28.7% year over year to $231.81 million but fell short of estimates.
• Analyst sentiment remains cautious, with the sole analyst rating the stock “Hold” and Weiss Ratings upgrading it from “hold (c-)” to “hold (c).” Institutional investors own 7.39% of the company.

Shares of Chipmos Technologies (NASDAQ:IMOS - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $67.37, but opened at $69.99. Chipmos Technologies shares last traded at $70.4730, with a volume of 10,917 shares trading hands.

Analyst Ratings Changes

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

Chipmos Technologies Trading Up 3.6%

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.39 and a quick ratio of 1.98. The firm's fifty day moving average is $56.59 and its two-hundred day moving average is $53.58. The firm has a market capitalization of $2.46 billion, a PE ratio of 34.11 and a beta of 1.34.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.80 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 firm had revenue of $231.81 million during the quarter, compared to analyst estimates of $236.95 million. During the same quarter last year, the business posted ($0.51) EPS. The company's revenue for the quarter was up 28.7% on a year-over-year basis.

Institutional Trading of Chipmos Technologies

A number of hedge funds have recently bought and sold shares of IMOS. Dimensional Fund Advisors LP grew its position in shares of Chipmos Technologies by 0.4% in 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 in the last quarter. NewEdge Advisors LLC lifted its holdings in Chipmos Technologies by 163.0% during the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 494 shares in the last quarter. Squarepoint Ops LLC bought a new position in Chipmos Technologies in the 2nd quarter worth about $235,000. Foster Group Inc. bought a new position in Chipmos Technologies in the 2nd quarter worth about $339,000. Finally, Kathmere Capital Management LLC purchased a new position in Chipmos Technologies during the 1st quarter valued at about $204,000. 7.39% of the stock is currently owned by institutional investors.

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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