Chipmos Technologies (NASDAQ:IMOS) Shares Up 3% – Should You Buy?

Chipmos Technologies (NASDAQ:IMOS) shot up 3% on Monday . The company traded as high as $29.99 and last traded at $29.45. 514 shares were traded during mid-day trading, a decline of 98% from the average session volume of 21,627 shares. The stock had previously closed at $28.59.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Chipmos Technologies in a report on Monday, December 22nd. Wall Street Zen raised shares of Chipmos Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Chipmos Technologies Stock Down 1.6%

The firm has a market cap of $1.05 billion, a PE ratio of 186.13 and a beta of 1.06. The company has a current ratio of 2.47, a quick ratio of 2.12 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $26.03 and a 200-day moving average price of $20.93.

Chipmos Technologies (NASDAQ:IMOS) last issued its earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.20. Chipmos Technologies had a net margin of 0.78% and a return on equity of 0.75%. The firm had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter last year, the company earned $0.26 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year.

Chipmos Technologies announced that its board has authorized a share buyback plan on Tuesday, September 2nd that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC raised its holdings in Chipmos Technologies by 110.7% during the second quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock worth $576,000 after purchasing an additional 16,707 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of 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 buying an additional 27,617 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Chipmos Technologies by 5.9% in the 2nd quarter. Acadian Asset Management LLC now owns 265,392 shares of the semiconductor company’s stock valued at $4,795,000 after buying an additional 14,697 shares during the last quarter. Creative Planning raised its stake in Chipmos Technologies by 50.3% during the 2nd quarter. Creative Planning now owns 45,283 shares of the semiconductor company’s stock worth $820,000 after acquiring an additional 15,150 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Chipmos Technologies by 27.0% during the 2nd quarter. Signaturefd LLC now owns 22,180 shares of the semiconductor company’s stock worth $402,000 after acquiring an additional 4,716 shares in the last quarter. Hedge funds and other institutional investors own 7.39% of the company’s stock.

Chipmos Technologies Company Profile

ChipMOS Technologies Inc is a Taiwan‐based provider of outsourced semiconductor assembly, testing and packaging services. The company offers a comprehensive range of back‐end solutions including wafer probing, assembly, surface mount and final test services for memory chips, microcontrollers, system‐on‐chips and other integrated circuits. ChipMOS serves customers in the consumer electronics, communications, industrial and automotive markets by delivering reliable testing and packaging support to semiconductor fabless companies and foundries.

Founded in 1997 and headquartered in Hsinchu, Taiwan, ChipMOS operates multiple production facilities across Asia, including sites in Taoyuan (Taiwan), Guangdong Province (China) and Singapore.