Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up – Here’s What Happened

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $67.37, but opened at $69.99. Chipmos Technologies shares last traded at $70.4730, with a volume of 10,917 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Chipmos Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Chipmos Technologies Stock Up 3.6%

The company has a market cap of $2.46 billion, a PE ratio of 34.11 and a beta of 1.34. The stock has a 50-day moving average of $56.59 and a 200-day moving average of $53.58. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.45.

Chipmos Technologies (NASDAQ:IMOS) last posted its earnings results on Tuesday, August 11th. The semiconductor company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.64 by $0.16. The business had revenue of $231.81 million during the quarter, compared to analysts’ expectations of $236.95 million. Chipmos Technologies had a return on equity of 9.19% and a net margin of 8.30%.The firm’s revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IMOS. XY Capital Ltd purchased a new stake in shares of Chipmos Technologies during the 2nd quarter valued at $8,373,000. Dimensional Fund Advisors LP grew its position in Chipmos Technologies by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock worth $3,301,000 after acquiring an additional 335 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in Chipmos Technologies in the second quarter worth $517,000. Delphi Management Inc. MA bought a new position in Chipmos Technologies in the first quarter valued at $254,000. Finally, Engineers Gate Manager LP bought a new position in Chipmos Technologies in the second quarter valued at $373,000. 7.39% of the stock is currently owned by institutional investors.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc is a Taiwan-based semiconductor assembly and testing company that provides outsourced semiconductor packaging and testing services. The company supports integrated circuit manufacturers and other electronics companies by handling various stages of semiconductor production after wafer fabrication.

Its services include wafer probing and sorting, wafer bumping, assembly, final testing, burn-in and related engineering services. ChipMOS works with a range of semiconductor products, including memory devices, display driver integrated circuits, logic and mixed-signal chips, and other consumer and communications-related components.

Founded in 1997, ChipMOS serves customers in the global semiconductor industry through operations centered in Taiwan, with additional international business relationships and support capabilities.