Chipmos Technologies (NASDAQ:IMOS) Trading Up 6.4% - Time to Buy?

Key Points

• Chipmos Technologies shares rose 6.4% to about $58.60, although trading volume was 83% below the average daily level.
• The company reported quarterly EPS of $0.80, beating estimates of $0.64, while revenue increased 28.7% year over year to $231.81 million but fell short of consensus expectations.
• Analyst sentiment remains neutral: Weiss Ratings upgraded the stock’s rating within the “Hold” category, and the broader analyst consensus is also “Hold.”

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) traded up 6.4% on Friday . The company traded as high as $59.31 and last traded at $58.6010. Approximately 13,821 shares changed hands during trading, a decline of 83% from the average daily volume of 82,419 shares. The stock had previously closed at $55.09.

Wall Street Analysts Forecast Growth

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

Chipmos Technologies Trading Up 8.8%

The firm has a market cap of $2.11 billion, a PE ratio of 29.30 and a beta of 1.34. The company has a current ratio of 2.40, a quick ratio of 2.08 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average price of $56.92 and a 200 day moving average price of $52.85.

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. The firm had revenue of $231.81 million during the quarter, compared to the consensus estimate of $236.95 million. Chipmos Technologies had a return on equity of 9.25% and a net margin of 8.30%.The firm's revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.51) EPS.

Hedge Funds Weigh In On Chipmos Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. XY Capital Ltd acquired a new stake in shares of Chipmos Technologies in the 2nd quarter worth approximately $8,373,000. Dimensional Fund Advisors LP boosted its stake in shares of 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 acquiring an additional 335 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in Chipmos Technologies in the 2nd quarter valued at about $517,000. Delphi Management Inc. MA purchased a new stake in shares of Chipmos Technologies during the first quarter worth about $254,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Chipmos Technologies during the second quarter worth about $373,000. 7.39% of the stock is owned by institutional investors and hedge funds.

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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.