Weiss Ratings Reaffirms "Sell (D)" Rating for Chipmos Technologies (NASDAQ:IMOS)

Key Points

• Weiss Ratings has reiterated a "Sell (D)" rating for Chipmos Technologies (NASDAQ:IMOS), highlighting ongoing concerns over the company's stock performance.
• Despite the negative rating from Weiss Ratings, Wall Street Zen upgraded Chipmos Technologies from "sell" to "hold," indicating mixed analyst perspectives on the stock.
• Chipmos Technologies reported a loss of ($0.51) earnings per share for the last quarter, significantly missing analysts' expectation of a $0.29 profit, with revenue down 1.3% year-over-year.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report)'s stock had its "sell (d)" rating reiterated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised Chipmos Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Chipmos Technologies has a consensus rating of "Sell".

Chipmos Technologies Stock Performance

Shares of IMOS traded up $0.15 during midday trading on Wednesday, reaching $20.16. 5,225 shares of the stock were exchanged, compared to its average volume of 12,445. The company has a market cap of $722.94 million, a P/E ratio of 224.00 and a beta of 1.08. The stock's 50 day simple moving average is $17.68 and its 200 day simple moving average is $17.72. Chipmos Technologies has a twelve month low of $12.78 and a twelve month high of $23.19. The company has a quick ratio of 1.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.39.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last released its earnings results on Tuesday, August 12th. The semiconductor company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.80). Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The firm had revenue of $188.55 million for the quarter, compared to analyst estimates of $5.82 billion. During the same period in the prior year, the company posted $0.38 EPS. The business's revenue for the quarter was down 1.3% compared to the same quarter last year.

Chipmos Technologies announced that its board has initiated a stock repurchase program on Tuesday, September 2nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Wealthquest Corp purchased a new stake in Chipmos Technologies in the 1st quarter valued at approximately $52,000. GAMMA Investing LLC increased its stake in shares of Chipmos Technologies by 131.7% in the third quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 1,629 shares during the period. Bank of America Corp DE grew its position in Chipmos Technologies by 8.6% in the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company's stock worth $162,000 after buying an additional 679 shares during the last quarter. Signaturefd LLC boosted its stake in Chipmos Technologies by 27.0% in the 2nd quarter. Signaturefd LLC now owns 22,180 shares of the semiconductor company's stock worth $402,000 after purchasing an additional 4,716 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of Chipmos Technologies by 110.7% in the 2nd quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company's stock valued at $576,000 after purchasing an additional 16,707 shares during the last quarter. Institutional investors and hedge funds own 7.39% of the company's stock.

About Chipmos Technologies

ChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in the People's Republic of China, Taiwan, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and Other Display Panel Driver Semiconductors; Bumping; and Others segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.