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

Chipmos Technologies (NASDAQ:IMOS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $37.37 and traded as high as $55.45. Chipmos Technologies shares last traded at $55.23, with a volume of 80,545 shares trading hands.

Wall Street Analysts Forecast Growth

IMOS has been the subject of several research reports. Wall Street Zen cut shares of Chipmos Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Friday, April 10th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Chipmos Technologies Trading Up 8.3%

The company has a current ratio of 2.40, a quick ratio of 2.08 and a debt-to-equity ratio of 0.44. The business’s 50-day simple moving average is $44.81 and its two-hundred day simple moving average is $37.37. The company has a market capitalization of $1.95 billion, a PE ratio of 75.14 and a beta of 1.16.

Chipmos Technologies (NASDAQ:IMOS) last posted its quarterly earnings data on Tuesday, February 24th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.12. The company had revenue of $207.78 million during the quarter, compared to analysts’ expectations of $6.50 billion. Chipmos Technologies had a net margin of 3.05% and a return on equity of 3.28%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 EPS.

Hedge Funds Weigh In On Chipmos Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new position in Chipmos Technologies in the 3rd quarter valued at about $290,000. Westside Investment Management Inc. raised its stake in shares of Chipmos Technologies by 125.5% in the 3rd quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 1,204 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Chipmos Technologies by 2.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 71,140 shares of the semiconductor company’s stock valued at $1,361,000 after purchasing an additional 1,949 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Chipmos Technologies in the 3rd quarter valued at about $219,000. Finally, Parallel Advisors LLC raised its stake in shares of Chipmos Technologies by 44.4% in the 3rd quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 1,890 shares in the last quarter. 7.39% of the stock is owned by hedge funds and other institutional investors.

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.