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

Key Points

• Chipmos Technologies shares opened higher, rising from a previous close of $52.78 to $54.80 before trading near $54.39 on light volume.
• The company reported quarterly EPS of $0.80, beating analysts’ $0.64 estimate, while revenue reached $231.81 million and increased 28.7% year over year but fell short of expectations.
• Weiss Ratings upgraded the stock from “hold (c-)” to “hold (c),” while the broader analyst consensus remains Hold; institutional investors own 7.39% of shares.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $52.78, but opened at $54.80. Chipmos Technologies shares last traded at $54.3920, with a volume of 3,751 shares.

Analyst Upgrades and Downgrades

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

Chipmos Technologies Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.08 and a current ratio of 2.40. The stock's 50 day simple moving average is $57.57 and its 200 day simple moving average is $52.70. The firm has a market capitalization of $1.94 billion, a P/E ratio of 26.93 and a beta of 1.34.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its 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 9.25% and a net margin of 8.30%.The business had revenue of $231.81 million during the quarter, compared to analysts' expectations of $236.95 million. During the same period in the prior year, the business earned ($0.51) EPS. The business's revenue for the quarter was up 28.7% compared to the same quarter last year.

Institutional Investors Weigh In On Chipmos Technologies

A number of institutional investors have recently added to or reduced their stakes in IMOS. Engineers Gate Manager LP purchased a new position in shares of Chipmos Technologies in the 2nd quarter worth approximately $373,000. Squarepoint Ops LLC acquired a new position in shares of Chipmos Technologies in the second quarter valued at about $235,000. XY Capital Ltd purchased 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 second quarter worth $517,000. Finally, Foster Group Inc. acquired a new position in shares of Chipmos Technologies in the 2nd quarter valued at about $339,000. Institutional investors own 7.39% of the company's stock.

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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