Chipmos Technologies (NASDAQ:IMOS) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.02 and traded as high as $40.10. Chipmos Technologies shares last traded at $39.82, with a volume of 27,998 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IMOS. Weiss Ratings upgraded shares of Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Chipmos Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Chipmos Technologies currently has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 2.47 and a quick ratio of 2.12. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 87.74 and a beta of 1.00. The stock has a 50 day moving average price of $37.83 and a 200-day moving average price of $28.24.

Chipmos Technologies (NASDAQ:IMOS) last posted its quarterly earnings data on Tuesday, February 24th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.34 by $0.12. Chipmos Technologies had a return on equity of 1.90% and a net margin of 1.88%.The firm had revenue of $207.78 million during the quarter, compared to the consensus estimate of $6.50 billion. During the same period in the prior year, the company earned $0.19 EPS. The firm’s revenue was up 26.2% compared to the same quarter last year.

Hedge Funds Weigh In On Chipmos Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. ABC Arbitrage SA purchased a new stake in Chipmos Technologies during the 3rd quarter valued at about $290,000. Creative Planning lifted its stake in Chipmos Technologies by 50.3% in the 2nd 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. Acadian Asset Management LLC boosted its holdings in shares of Chipmos Technologies by 5.9% during the 2nd 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 during the last quarter. Rhumbline Advisers grew its position in shares of Chipmos Technologies by 51.4% in the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after purchasing an additional 12,759 shares in the last quarter. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Chipmos Technologies in the third quarter valued at approximately $219,000. 7.39% of the stock is currently owned by institutional investors and hedge funds.

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.