Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up After Better-Than-Expected Earnings

Chipmos Technologies (NASDAQ:IMOS) shares gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $35.07, but opened at $37.06. Chipmos Technologies shares last traded at $38.8340, with a volume of 13,879 shares traded.

The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.12. Chipmos Technologies had a net margin of 0.78% and a return on equity of 0.75%. The business had revenue of $207.78 million for the quarter, compared to analysts’ expectations of $6.50 billion. During the same period in the previous year, the company posted $0.19 EPS. The company’s quarterly revenue was up 26.2% on a year-over-year basis.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IMOS shares. Wall Street Zen raised Chipmos Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Weiss Ratings raised Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Institutional Trading of Chipmos Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in IMOS. Dimensional Fund Advisors LP grew its stake in Chipmos Technologies by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 91,919 shares of the semiconductor company’s stock worth $2,727,000 after buying an additional 356 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Chipmos Technologies by 14.3% in the 4th quarter. GAMMA Investing LLC now owns 3,276 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 410 shares during the period. Allworth Financial LP grew its holdings in 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 buying an additional 587 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Chipmos Technologies by 3.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock valued at $829,000 after buying an additional 830 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Chipmos Technologies by 5.0% during the 4th quarter. Ballentine Partners LLC now owns 21,521 shares of the semiconductor company’s stock valued at $638,000 after buying an additional 1,028 shares during the period. 7.39% of the stock is currently owned by institutional investors and hedge funds.

Chipmos Technologies Trading Up 10.4%

The business’s 50 day moving average price is $34.76 and its two-hundred day moving average price is $26.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.12 and a current ratio of 2.47. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 240.59 and a beta of 1.04.

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.