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

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $28.59, but opened at $29.90. Chipmos Technologies shares last traded at $30.1250, with a volume of 3,702 shares.

Analyst Ratings Changes

IMOS has been the topic of several analyst reports. Wall Street Zen raised Chipmos Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Chipmos Technologies in a report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Chipmos Technologies has an average rating of “Sell”.

Chipmos Technologies Stock Performance

The firm’s 50-day moving average price is $25.83 and its 200-day moving average price is $20.85. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.47 and a quick ratio of 2.12. The stock has a market cap of $1.06 billion, a P/E ratio of 188.28 and a beta of 1.06.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, November 11th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.13 by $0.20. The business had revenue of $201.70 million during the quarter, compared to the consensus estimate of $6.50 billion. Chipmos Technologies had a net margin of 0.78% and a return on equity of 0.75%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS.

Chipmos Technologies declared that its board has approved a share repurchase plan on Tuesday, September 2nd that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in shares of Chipmos Technologies by 74.7% in the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 587 shares during the period. Westside Investment Management Inc. increased its position in Chipmos Technologies by 125.5% during the third quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 1,204 shares during the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 1,629 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Chipmos Technologies by 44.4% in the 3rd quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 1,890 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in shares of Chipmos Technologies during the 3rd quarter worth about $219,000. Hedge funds and other institutional investors own 7.39% of the company’s stock.

About Chipmos Technologies

ChipMOS Technologies Inc is a Taiwan‐based provider of outsourced semiconductor assembly, testing and packaging services. The company offers a comprehensive range of back‐end solutions including wafer probing, assembly, surface mount and final test services for memory chips, microcontrollers, system‐on‐chips and other integrated circuits. ChipMOS serves customers in the consumer electronics, communications, industrial and automotive markets by delivering reliable testing and packaging support to semiconductor fabless companies and foundries.

Founded in 1997 and headquartered in Hsinchu, Taiwan, ChipMOS operates multiple production facilities across Asia, including sites in Taoyuan (Taiwan), Guangdong Province (China) and Singapore.