Chipmos Technologies (NASDAQ:IMOS) Stock Price Down 6.5% – Should You Sell?

Chipmos Technologies (NASDAQ:IMOS) shares dropped 6.5% during mid-day trading on Monday. The company traded as low as $78.05 and last traded at $77.8960. 41,621 shares were traded during mid-day trading, a decline of 51% from the average session volume of 84,625 shares. The stock had previously closed at $83.30.

Analysts Set New Price Targets

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

Chipmos Technologies Price Performance

The stock has a market cap of $2.76 billion, a P/E ratio of 38.33 and a beta of 1.24. The company’s 50 day moving average price is $58.85 and its 200-day moving average price is $55.79. The company has a quick ratio of 1.94, a current ratio of 2.39 and a debt-to-equity ratio of 0.45.

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

Hedge Funds Weigh In On Chipmos Technologies

A number of hedge funds have recently made changes to their positions in IMOS. XY Capital Ltd bought a new stake in Chipmos Technologies in the second quarter valued at approximately $8,373,000. Dimensional Fund Advisors LP raised its holdings in Chipmos Technologies by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock worth $3,301,000 after purchasing an additional 335 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in Chipmos Technologies during the 2nd quarter worth approximately $517,000. Delphi Management Inc. MA acquired a new position in shares of Chipmos Technologies in the 1st quarter worth approximately $254,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Chipmos Technologies in the 2nd quarter worth approximately $373,000. 7.39% of the stock is currently owned by institutional investors.

About Chipmos Technologies

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 electronics companies by handling portions of the back-end semiconductor production process, including wafer testing, assembly, packaging, and final testing.

Its service and product offerings include packaging and testing for memory, logic, mixed-signal, and display driver integrated circuits.