Chipmos Technologies (NASDAQ:IMOS) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Chipmos Technologies (NASDAQ:IMOS) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $52.87 and traded as low as $51.31. Chipmos Technologies shares last traded at $52.17, with a volume of 94,777 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Chipmos Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Chipmos Technologies currently has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The firm has a market capitalization of $1.84 billion, a P/E ratio of 25.51 and a beta of 1.34. The company has a 50-day moving average of $62.97 and a 200-day moving average of $52.87. The company has a current ratio of 2.39, a quick ratio of 1.94 and a debt-to-equity ratio of 0.45.

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

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XY Capital Ltd acquired a new position in shares of Chipmos Technologies in the second quarter worth approximately $8,373,000. Dimensional Fund Advisors LP boosted its holdings in Chipmos Technologies by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock valued at $3,301,000 after acquiring an additional 335 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Chipmos Technologies during the 3rd quarter valued at approximately $867,000. TD Waterhouse Canada Inc. increased its position in Chipmos Technologies by 2.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 8,201 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 224 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in Chipmos Technologies during the 2nd quarter valued at approximately $373,000. 7.39% of the stock is owned by institutional investors and hedge funds.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc (NASDAQ: IMOS) is a semiconductor assembly and testing services provider. The company operates in the outsourced semiconductor assembly and test (OSAT) industry, supporting integrated-circuit manufacturers and other customers with back-end semiconductor production services.

Its services include wafer probing and sorting, wafer bumping, semiconductor assembly, final testing, and related engineering and production support. ChipMOS serves a range of semiconductor applications, including memory products, display driver integrated circuits, logic and mixed-signal devices, and other components used in consumer electronics, communications equipment, and computing products.

ChipMOS is headquartered in Taiwan and has developed its manufacturing and testing operations in Taiwan and other parts of Asia.