Short Interest in Chipmos Technologies (NASDAQ:IMOS) Expands By 98.1%

Chipmos Technologies (NASDAQ:IMOS) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 32,587 shares, an increase of 98.1% from the November 30th total of 16,452 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 16,471 shares, the short-interest ratio is currently 2.0 days. Based on an average daily volume of 16,471 shares, the short-interest ratio is currently 2.0 days. Currently, 0.1% of the company’s shares are short sold.

Chipmos Technologies Stock Up 5.9%

IMOS stock traded up $1.68 during trading on Friday, hitting $30.27. 15,514 shares of the company’s stock traded hands, compared to its average volume of 11,485. The firm has a market capitalization of $1.07 billion, a P/E ratio of 189.19 and a beta of 1.06. Chipmos Technologies has a 1 year low of $12.78 and a 1 year high of $30.98. The company has a quick ratio of 2.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $26.03 and a two-hundred day simple moving average of $20.93.

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

Chipmos Technologies announced that its board has authorized a share buyback program on Tuesday, September 2nd that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its stake in shares of Chipmos Technologies by 74.7% during the third quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after buying an additional 587 shares during the period. Westside Investment Management Inc. lifted its position in Chipmos Technologies by 125.5% during the 3rd quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 1,204 shares during the period. GAMMA Investing LLC lifted its position in Chipmos Technologies by 131.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 1,629 shares during the period. Parallel Advisors LLC grew its stake in Chipmos Technologies by 44.4% during the 3rd quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 1,890 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Chipmos Technologies by 71.8% in the second quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 4,952 shares during the period. Institutional investors and hedge funds own 7.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Chipmos Technologies Company Profile

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.