Chipmos Technologies (NASDAQ:IMOS) Stock Passes Above 200 Day Moving Average – Should You Sell?

Chipmos Technologies (NASDAQ:IMOS) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.41 and traded as high as $28.24. Chipmos Technologies shares last traded at $27.57, with a volume of 5,884 shares changing hands.

Analysts Set New Price Targets

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

Chipmos Technologies Stock Down 2.5%

The company has a current ratio of 2.47, a quick ratio of 2.12 and a debt-to-equity ratio of 0.42. The firm has a market cap of $971.29 million, a PE ratio of 172.31 and a beta of 1.06. The business’s 50-day simple moving average is $24.66 and its 200 day simple moving average is $20.41.

Chipmos Technologies (NASDAQ:IMOS) last announced 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 net margin of 0.78% and a return on equity of 0.75%. The firm had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter in the prior year, the company earned $0.26 EPS. The company’s revenue was up 1.3% compared to the same quarter last year.

Chipmos Technologies announced that its board has authorized a share repurchase program on Tuesday, September 2nd that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IMOS. Ballentine Partners LLC lifted its stake in shares of Chipmos Technologies by 110.7% during the 2nd quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock worth $576,000 after purchasing an additional 16,707 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Chipmos Technologies by 66.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 69,191 shares of the semiconductor company’s stock worth $1,253,000 after purchasing an additional 27,617 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Chipmos Technologies by 14.5% during the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company’s stock valued at $4,206,000 after buying an additional 31,768 shares during the last quarter. Creative Planning boosted its holdings in shares of Chipmos Technologies by 50.3% in the 2nd quarter. Creative Planning now owns 45,283 shares of the semiconductor company’s stock valued at $820,000 after buying an additional 15,150 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Chipmos Technologies by 27.0% in the 2nd quarter. Signaturefd LLC now owns 22,180 shares of the semiconductor company’s stock valued at $402,000 after buying an additional 4,716 shares in the last quarter. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

About Chipmos Technologies

ChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in the People’s Republic of China, Taiwan, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and Other Display Panel Driver Semiconductors; Bumping; and Others segments.