Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Still a Buy?

Chipmos Technologies (NASDAQ:IMOS) gapped up before the market opened on Monday. The stock had previously closed at $43.78, but opened at $46.40. Chipmos Technologies shares last traded at $47.2940, with a volume of 9,076 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Chipmos Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Chipmos Technologies has an average rating of “Hold”.

Chipmos Technologies Price Performance

The stock has a market cap of $1.70 billion, a P/E ratio of 23.59 and a beta of 1.34. The company has a 50 day simple moving average of $62.03 and a 200 day simple moving average of $52.98. 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 issued its quarterly earnings results on Tuesday, November 10th. The semiconductor company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.38. Chipmos Technologies had a net margin of 8.30% and a return on equity of 9.19%. The company had revenue of $263.49 million during the quarter, compared to analysts’ expectations of $249.03 million.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IMOS. XY Capital Ltd acquired a new stake in Chipmos Technologies in the 2nd quarter valued at $8,373,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Chipmos Technologies during the 3rd quarter worth about $867,000. Ritholtz Wealth Management boosted its stake in shares of Chipmos Technologies by 4.0% during the 3rd quarter. Ritholtz Wealth Management now owns 9,309 shares of the semiconductor company’s stock worth $668,000 after buying an additional 360 shares during the last quarter. Foster Group Inc. acquired a new position in shares of Chipmos Technologies during the 2nd quarter worth about $339,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Chipmos Technologies by 163.0% in the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 494 shares in the last quarter. Institutional investors own 7.39% of the company’s stock.

About Chipmos Technologies

ChipMOS Technologies Inc. is a Taiwan-based provider of outsourced semiconductor assembly and test services. Founded in 1997, the company serves semiconductor manufacturers and other customers that rely on external partners to prepare and test chips for use in electronic devices. Its services include wafer bumping, semiconductor assembly, and testing. ChipMOS works with products such as display driver integrated circuits, memory chips, and mixed-signal semiconductors, which are used in applications including displays and consumer electronics.