Chipmos Technologies (NASDAQ:IMOS) Stock Breaks Above 200 Day Moving Average - Time to Sell?

Key Points

• Chipmos Technologies shares crossed above their 200-day moving average, reaching $75.47 and last trading at $75.19 versus the $56.86 long-term average.
• Despite the technical move, the stock fell 3.3% and carries an average analyst rating of Hold; Weiss Ratings modestly upgraded its assessment from “hold (c)” to “hold (c+).”
• Chipmos beat quarterly earnings expectations with EPS of $0.80 versus $0.64 forecast, while revenue rose 28.7% year over year to $231.81 million, though it came in below analyst estimates.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $56.86 and traded as high as $75.47. Chipmos Technologies shares last traded at $75.19, with a volume of 134,160 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Chipmos Technologies from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Chipmos Technologies Trading Down 3.3%

The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 36.77 and a beta of 1.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.39 and a quick ratio of 1.94. The firm's fifty day moving average is $61.22 and its 200-day moving average is $56.86.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.16. Chipmos Technologies had a net margin of 8.30% and a return on equity of 9.19%. The business had revenue of $231.81 million for the quarter, compared to analysts' expectations of $236.95 million. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The business's quarterly revenue was up 28.7% compared to the same quarter last year.

Institutional Investors Weigh In On Chipmos Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. XY Capital Ltd acquired a new stake in Chipmos Technologies during the second quarter worth approximately $8,373,000. GAMMA Investing LLC increased its holdings in Chipmos Technologies by 21.9% in the third quarter. GAMMA Investing LLC now owns 4,100 shares of the semiconductor company's stock worth $294,000 after purchasing an additional 737 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Chipmos Technologies in the second quarter valued at approximately $373,000. Squarepoint Ops LLC acquired a new position in Chipmos Technologies in the second quarter valued at approximately $235,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Chipmos Technologies in the second quarter valued at approximately $517,000. Institutional investors own 7.39% of the company's stock.

About Chipmos Technologies

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 electronics companies by handling portions of the back-end semiconductor production process, including wafer testing, assembly, packaging, and final testing.

Its service and product offerings include packaging and testing for memory, logic, mixed-signal, and display driver integrated circuits.

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