Chipmos Technologies (NASDAQ:IMOS) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Chipmos Technologies (NASDAQ:IMOS)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.62 and traded as high as $17.95. Chipmos Technologies shares last traded at $17.77, with a volume of 6,385 shares.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Chipmos Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th.

Chipmos Technologies Stock Down 0.3%

The firm has a market capitalization of $637.23 million, a price-to-earnings ratio of 197.44 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.29 and a quick ratio of 1.97. The stock has a fifty day moving average of $17.20 and a two-hundred day moving average of $17.62.

Chipmos Technologies (NASDAQ:IMOS) last released its quarterly earnings results 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 company had revenue of $188.55 million during the quarter, compared to the consensus estimate of $5.82 billion. Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS.

Chipmos Technologies declared that its Board of Directors has initiated a share buyback program on Tuesday, September 2nd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in Chipmos Technologies by 8.6% in the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock valued at $162,000 after buying an additional 679 shares during the period. Wealthquest Corp acquired a new position in shares of Chipmos Technologies in the 1st quarter valued at about $52,000. Envestnet Asset Management Inc. lifted its stake in shares of 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 period. Acadian Asset Management LLC boosted its position in shares of Chipmos Technologies by 14.5% during 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 in the last quarter. Finally, Ballentine Partners LLC grew its stake 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 during the period. Institutional investors own 7.39% of the company’s stock.

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.