Chipmos Technologies (NASDAQ:IMOS) Trading 19.9% Higher Following Better-Than-Expected Earnings

Chipmos Technologies (NASDAQ:IMOS)’s share price rose 19.9% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $42.44 and last traded at $42.0450. Approximately 7,148 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 42,781 shares. The stock had previously closed at $35.07.

The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.34 by $0.12. The business had revenue of $207.78 million during the quarter, compared to analyst estimates of $6.50 billion. Chipmos Technologies had a net margin of 0.78% and a return on equity of 0.75%. Chipmos Technologies’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IMOS. Wall Street Zen raised Chipmos Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Weiss Ratings raised shares of 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, According to MarketBeat, Chipmos Technologies presently has an average rating of “Hold”.

Institutional Trading of Chipmos Technologies

Several institutional investors have recently bought and sold shares of IMOS. ABC Arbitrage SA bought a new stake in Chipmos Technologies during the 3rd quarter valued at about $290,000. Creative Planning grew its holdings in shares of Chipmos Technologies by 50.3% during the second quarter. Creative Planning now owns 45,283 shares of the semiconductor company’s stock valued at $820,000 after buying an additional 15,150 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Chipmos Technologies by 5.9% during the second quarter. Acadian Asset Management LLC now owns 265,392 shares of the semiconductor company’s stock valued at $4,795,000 after buying an additional 14,697 shares during the last quarter. Rhumbline Advisers increased its position in shares of Chipmos Technologies by 51.4% during the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after acquiring an additional 12,759 shares in the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in Chipmos Technologies in the 3rd quarter worth approximately $219,000. 7.39% of the stock is owned by hedge funds and other institutional investors.

Chipmos Technologies Stock Performance

The company has a market capitalization of $1.49 billion, a PE ratio of 264.40 and a beta of 1.04. The company has a current ratio of 2.47, a quick ratio of 2.12 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average is $35.00 and its two-hundred day moving average is $26.23.

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.