Chipmos Technologies (NASDAQ:IMOS) Stock Price Down 7.6% – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS) shares were down 7.6% during trading on Monday . The company traded as low as $43.79 and last traded at $43.5190. Approximately 36,101 shares changed hands during trading, a decline of 26% from the average daily volume of 48,717 shares. The stock had previously closed at $47.09.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IMOS shares. Wall Street Zen raised Chipmos Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipmos Technologies in a research report on Friday, April 10th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Chipmos Technologies has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The firm has a 50 day moving average of $38.82 and a two-hundred day moving average of $32.48. 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 company has a market cap of $1.62 billion, a PE ratio of 106.79 and a beta of 1.04.

Chipmos Technologies (NASDAQ:IMOS) last issued its earnings results 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 business had revenue of $207.78 million for the quarter, compared to the consensus estimate of $6.50 billion. During the same period last year, the business posted $0.19 EPS. The company’s revenue was up 26.2% compared to the same quarter last year.

Institutional Trading of Chipmos Technologies

Several institutional investors have recently added to or reduced their stakes in IMOS. Allworth Financial LP boosted its stake in Chipmos Technologies by 74.7% during the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 587 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Chipmos Technologies by 16,828.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 1,178 shares during the last quarter. Westside Investment Management Inc. boosted its stake in Chipmos Technologies by 125.5% during 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 during the last quarter. Smartleaf Asset Management LLC purchased a new stake in Chipmos Technologies during the 4th quarter valued at $54,000. Finally, GAMMA Investing LLC boosted its stake in Chipmos Technologies by 131.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 1,629 shares during the last quarter. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

About Chipmos Technologies

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.