Chipmos Technologies (NASDAQ:IMOS) Shares Up 3% – Should You Buy?

Shares of Chipmos Technologies (NASDAQ:IMOS) shot up 3% during mid-day trading on Monday . The stock traded as high as $29.99 and last traded at $29.45. 514 shares changed hands during trading, a decline of 98% from the average session volume of 21,627 shares. The stock had previously closed at $28.59.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IMOS. Weiss Ratings reissued a “sell (d+)” rating on shares of Chipmos Technologies in a report on Monday, December 22nd. Wall Street Zen raised Chipmos Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Chipmos Technologies Stock Performance

The company has a quick ratio of 2.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $26.03 and a 200-day moving average price of $20.93. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 186.13 and a beta of 1.06.

Chipmos Technologies (NASDAQ:IMOS) last issued its quarterly earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 earnings per share 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 firm had revenue of $201.70 million during the quarter, compared to the consensus estimate of $6.50 billion. During the same period last year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis.

Chipmos Technologies announced that its board has approved a stock buyback program on Tuesday, September 2nd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Chipmos Technologies

A number of hedge funds have recently added to or reduced their stakes in IMOS. Allworth Financial LP increased its position in Chipmos Technologies by 74.7% during the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 587 shares during the period. Westside Investment Management Inc. boosted its stake in shares of Chipmos Technologies by 125.5% in the third quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 1,204 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Chipmos Technologies by 131.7% in the third quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 1,629 shares in the last quarter. Parallel Advisors LLC grew its holdings in Chipmos Technologies by 44.4% during the third quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 1,890 shares during the period. Finally, Bank of America Corp DE raised its position in Chipmos Technologies by 71.8% in the second quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 4,952 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.