Chipmos Technologies (NASDAQ:IMOS) Stock Falls 6.8% – Time to Sell?

Chipmos Technologies (NASDAQ:IMOS)’s share price was down 6.8% during trading on Thursday. The stock traded as low as $63.56 and last traded at $64.46. 33,020 shares were traded during trading, a decline of 61% from the average daily volume of 85,422 shares. The stock had previously closed at $69.19.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Chipmos Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Chipmos Technologies has an average rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.39 and a quick ratio of 1.94. The firm has a fifty day simple moving average of $62.41 and a 200 day simple moving average of $57.56. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 30.03 and a beta of 1.24.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IMOS. TD Waterhouse Canada Inc. grew its position in shares of Chipmos Technologies by 2.8% in the third quarter. TD Waterhouse Canada Inc. now owns 8,201 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 224 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Chipmos Technologies by 21.9% during 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 during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Chipmos Technologies during the 2nd quarter worth about $373,000. Squarepoint Ops LLC acquired a new position in shares of Chipmos Technologies during the 2nd quarter worth about $235,000. Finally, XY Capital Ltd acquired a new position in shares of Chipmos Technologies during the 2nd quarter worth about $8,373,000. Institutional investors own 7.39% of the company’s stock.

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 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.