Chipmos Technologies (NASDAQ:IMOS) Shares Gap Down – Here’s Why

Chipmos Technologies (NASDAQ:IMOS)’s stock price gapped down before the market opened on Tuesday. The stock had previously closed at $71.58, but opened at $67.96. Chipmos Technologies shares last traded at $68.01, with a volume of 20,846 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Chipmos Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 33.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.94 and a current ratio of 2.39. The company has a 50-day simple moving average of $56.80 and a two-hundred day simple moving average of $54.28.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.80 EPS for the quarter, beating 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 company had revenue of $231.81 million during the quarter, compared to the consensus estimate of $236.95 million. During the same quarter in the prior year, the firm posted ($0.51) EPS. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year.

Institutional Trading of Chipmos Technologies

Large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new position in shares of Chipmos Technologies in the 2nd quarter valued at about $373,000. Squarepoint Ops LLC bought a new stake in shares of Chipmos Technologies in the 2nd quarter valued at about $235,000. XY Capital Ltd bought a new stake in shares of Chipmos Technologies in the 2nd quarter valued at about $8,373,000. TD Waterhouse Canada Inc. bought a new stake in shares of Chipmos Technologies in the 2nd quarter valued at about $517,000. Finally, Foster Group Inc. acquired a new stake in Chipmos Technologies in the 2nd quarter valued at about $339,000. Institutional investors and hedge funds own 7.39% of the company’s stock.

About Chipmos Technologies

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 other electronics companies by handling various stages of semiconductor production after wafer fabrication.

Its services include wafer probing and sorting, wafer bumping, assembly, final testing, burn-in and related engineering services. ChipMOS works with a range of semiconductor products, including memory devices, display driver integrated circuits, logic and mixed-signal chips, and other consumer and communications-related components.

Founded in 1997, ChipMOS serves customers in the global semiconductor industry through operations centered in Taiwan, with additional international business relationships and support capabilities.