Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $44.66, but opened at $43.14. Chipmos Technologies shares last traded at $41.8990, with a volume of 25,335 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IMOS. Weiss Ratings upgraded Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Wall Street Zen lowered Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Chipmos Technologies Trading Up 0.3%

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 company has a fifty day simple moving average of $31.29 and a 200-day simple moving average of $23.13. The company has a market capitalization of $1.48 billion, a PE ratio of 262.13 and a beta of 1.04.

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

Institutional Trading of Chipmos Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Chipmos Technologies by 66.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 69,191 shares of the semiconductor company’s stock valued at $1,253,000 after buying an additional 27,617 shares during the period. Ballentine Partners LLC grew its position in Chipmos Technologies by 110.7% in the 2nd quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock valued at $576,000 after acquiring an additional 16,707 shares in the last quarter. ABC Arbitrage SA purchased a new stake in Chipmos Technologies during the third quarter worth about $290,000. Creative Planning lifted its position 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 worth $820,000 after purchasing an additional 15,150 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position 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 worth $4,795,000 after purchasing an additional 14,697 shares in the last quarter. Institutional investors and hedge funds own 7.39% of the company’s stock.

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.