Chipmos Technologies (NASDAQ:IMOS) Rating Lowered to “Buy” at Wall Street Zen

Chipmos Technologies (NASDAQ:IMOS) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings raised shares of Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

Chipmos Technologies stock opened at $42.57 on Friday. The stock has a fifty day moving average price of $29.82 and a 200 day moving average price of $22.46. Chipmos Technologies has a 52 week low of $12.78 and a 52 week high of $43.16. The firm has a market capitalization of $1.50 billion, a P/E ratio of 266.06 and a beta of 1.04. The company has a current ratio of 2.47, a quick ratio of 2.12 and a debt-to-equity ratio of 0.42.

Chipmos Technologies (NASDAQ:IMOS) last posted its quarterly earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 EPS for the quarter, beating 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 company had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The firm’s revenue was up 1.3% 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 business. Allworth Financial LP boosted 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. lifted its stake in shares of Chipmos Technologies by 125.5% during the third quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 1,204 shares in the last quarter. GAMMA Investing LLC boosted its position 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 worth $55,000 after buying an additional 1,629 shares during the period. Parallel Advisors LLC grew its stake in shares of Chipmos Technologies by 44.4% in the third quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 1,890 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of 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 valued at $215,000 after buying 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.