Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Should You Buy?

Shares of Chipmos Technologies (NASDAQ:IMOS) gapped up before the market opened on Wednesday. The stock had previously closed at $67.76, but opened at $71.74. Chipmos Technologies shares last traded at $71.8260, with a volume of 18,817 shares.

Analyst Ratings Changes

Separately, Weiss Ratings raised Chipmos Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.39 and a quick ratio of 1.94. The company has a market capitalization of $2.54 billion, a PE ratio of 35.20 and a beta of 1.34. The stock has a 50-day simple moving average of $56.83 and a 200 day simple moving average of $54.47.

Chipmos Technologies (NASDAQ:IMOS) last announced its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. The business had revenue of $231.81 million during the quarter, compared to analysts’ expectations of $236.95 million. Chipmos Technologies had a return on equity of 9.19% and a net margin of 8.30%.The business’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) earnings per share.

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in shares of Chipmos Technologies by 163.0% in the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 494 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Chipmos Technologies during the 2nd quarter worth approximately $235,000. Foster Group Inc. purchased a new position in shares of Chipmos Technologies during the 2nd quarter worth approximately $339,000. Kathmere Capital Management LLC acquired a new position in shares of Chipmos Technologies during the 1st quarter worth approximately $204,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Chipmos Technologies during the 2nd quarter worth approximately $373,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc is a Taiwan-based semiconductor assembly and testing company that provides outsourced semiconductor packaging and testing services. The company supports integrated circuit manufacturers and other electronics companies by handling various stages of semiconductor production after wafer fabrication.

Its services include wafer probing and sorting, wafer bumping, assembly, final testing, burn-in and related engineering services. ChipMOS works with a range of semiconductor products, including memory devices, display driver integrated circuits, logic and mixed-signal chips, and other consumer and communications-related components.

Founded in 1997, ChipMOS serves customers in the global semiconductor industry through operations centered in Taiwan, with additional international business relationships and support capabilities.