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

Shares of Chipmos Technologies (NASDAQ:IMOS) gapped up before the market opened on Wednesday. The stock had previously closed at $57.51, but opened at $60.60. Chipmos Technologies shares last traded at $61.5550, with a volume of 1,443 shares.

Analysts Set New Price Targets

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

Chipmos Technologies Stock Down 4.1%

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 firm’s fifty day moving average price is $63.01 and its 200-day moving average price is $52.63. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 29.07 and a beta of 1.24.

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

Institutional Investors Weigh In On Chipmos Technologies

Several institutional investors have recently added to or reduced their stakes in IMOS. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Chipmos Technologies in the third quarter valued at about $867,000. TD Waterhouse Canada Inc. grew its holdings in shares of Chipmos Technologies by 2.8% during the third quarter. TD Waterhouse Canada Inc. now owns 8,201 shares of the semiconductor company’s stock worth $593,000 after buying an additional 224 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Chipmos Technologies by 21.9% during the third quarter. GAMMA Investing LLC now owns 4,100 shares of the semiconductor company’s stock worth $294,000 after buying an additional 737 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Chipmos Technologies in the 2nd quarter valued at approximately $373,000. Finally, Squarepoint Ops LLC acquired a new stake in Chipmos Technologies in the 2nd quarter valued at approximately $235,000. 7.39% of the stock is owned by institutional investors.

About Chipmos Technologies

ChipMOS Technologies Inc (NASDAQ: IMOS) is a semiconductor assembly and testing services provider. The company operates in the outsourced semiconductor assembly and test (OSAT) industry, supporting integrated-circuit manufacturers and other customers with back-end semiconductor production services.

Its services include wafer probing and sorting, wafer bumping, semiconductor assembly, final testing, and related engineering and production support. ChipMOS serves a range of semiconductor applications, including memory products, display driver integrated circuits, logic and mixed-signal devices, and other components used in consumer electronics, communications equipment, and computing products.

ChipMOS is headquartered in Taiwan and has developed its manufacturing and testing operations in Taiwan and other parts of Asia.