Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – What’s Next?

Chipmos Technologies (NASDAQ:IMOS)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $75.19, but opened at $71.31. Chipmos Technologies shares last traded at $71.9420, with a volume of 16,072 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Chipmos Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a current ratio of 2.39, a quick ratio of 1.94 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $61.98 and its two-hundred day moving average is $57.33. The company has a market cap of $2.44 billion, a PE ratio of 33.83 and a beta of 1.24.

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

Hedge Funds Weigh In On Chipmos Technologies

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Chipmos Technologies by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 92,254 shares of the semiconductor company’s stock valued at $3,301,000 after purchasing an additional 335 shares during the period. NewEdge Advisors LLC lifted its holdings in Chipmos Technologies by 163.0% in the 1st quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 494 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Chipmos Technologies by 21.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,100 shares of the semiconductor company’s stock worth $294,000 after purchasing an additional 737 shares in the last quarter. Squarepoint Ops LLC bought a new position in Chipmos Technologies in the 2nd quarter worth approximately $235,000. Finally, Foster Group Inc. bought a new position in Chipmos Technologies in the 2nd quarter worth approximately $339,000. 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 semiconductor assembly and testing company that provides outsourced semiconductor packaging and testing services. The company supports integrated-circuit manufacturers and electronics companies by handling portions of the back-end semiconductor production process, including wafer testing, assembly, packaging, and final testing.

Its service and product offerings include packaging and testing for memory, logic, mixed-signal, and display driver integrated circuits.