Chipmos Technologies (NASDAQ:IMOS) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Chipmos Technologies (NASDAQ:IMOS) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.40 and traded as high as $21.60. Chipmos Technologies shares last traded at $21.09, with a volume of 9,570 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IMOS shares. Weiss Ratings reissued a “sell (d)” rating on shares of Chipmos Technologies in a report on Wednesday, October 8th. Wall Street Zen raised shares of Chipmos Technologies from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Chipmos Technologies has an average rating of “Sell”.

Chipmos Technologies Trading Down 3.8%

The stock has a market cap of $756.33 million, a price-to-earnings ratio of 234.33 and a beta of 1.08. The business’s fifty day simple moving average is $19.29 and its 200 day simple moving average is $18.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.29 and a quick ratio of 1.97.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, August 12th. The semiconductor company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.80). The business had revenue of $188.55 million during the quarter, compared to analyst estimates of $5.82 billion. Chipmos Technologies had a return on equity of 0.47% and a net margin of 0.50%.The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS.

Chipmos Technologies declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 2nd that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Chipmos Technologies

Several hedge funds have recently bought and sold shares of IMOS. Acadian Asset Management LLC lifted its position in Chipmos Technologies by 14.5% in the 1st quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company’s stock valued at $4,206,000 after purchasing an additional 31,768 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Chipmos Technologies by 66.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 69,191 shares of the semiconductor company’s stock valued at $1,253,000 after purchasing an additional 27,617 shares during the last quarter. Ballentine Partners LLC lifted its position in Chipmos Technologies by 110.7% in the 2nd quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock valued at $576,000 after purchasing an additional 16,707 shares during the last quarter. Creative Planning lifted its position in Chipmos Technologies by 50.3% in the 2nd quarter. Creative Planning now owns 45,283 shares of the semiconductor company’s stock valued at $820,000 after purchasing an additional 15,150 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Chipmos Technologies by 35.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company’s stock valued at $941,000 after purchasing an additional 14,620 shares during the last quarter. 7.39% of the stock is currently owned by institutional investors.

Chipmos Technologies Company Profile

ChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in the People’s Republic of China, Taiwan, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and Other Display Panel Driver Semiconductors; Bumping; and Others segments.