Chipmos Technologies (NASDAQ:IMOS) Trading Up 8.3% – Should You Buy?

Chipmos Technologies (NASDAQ:IMOS) shares shot up 8.3% on Thursday . The stock traded as high as $28.10 and last traded at $27.8940. 9,667 shares were traded during mid-day trading, a decline of 56% from the average session volume of 22,037 shares. The stock had previously closed at $25.76.

Wall Street Analysts Forecast Growth

IMOS has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Chipmos Technologies in a research note on Wednesday, October 8th. Wall Street Zen upgraded Chipmos Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Chipmos Technologies Price Performance

The firm has a market capitalization of $992.48 million, a P/E ratio of 307.56 and a beta of 1.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.97 and a current ratio of 2.29. The business has a 50 day simple moving average of $20.10 and a two-hundred day simple moving average of $18.67.

Chipmos Technologies (NASDAQ:IMOS) last posted its quarterly earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.20. The company had revenue of $201.70 million during the quarter. Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share.

Chipmos Technologies declared that its board has initiated a stock buyback plan on Tuesday, September 2nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its holdings in shares of Chipmos Technologies by 110.7% during the second 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 in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Chipmos Technologies by 66.4% during 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 acquiring an additional 27,617 shares during the period. Acadian Asset Management LLC increased its stake in shares of Chipmos Technologies by 14.5% in the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company’s stock worth $4,206,000 after purchasing an additional 31,768 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Chipmos Technologies by 35.4% during the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company’s stock valued at $941,000 after acquiring an additional 14,620 shares during the period. Finally, Wealthquest Corp purchased a new position in Chipmos Technologies in the 1st quarter worth approximately $52,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

About Chipmos Technologies

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.