Goldman Sachs Group Inc. Reduces Position in Chipmos Technologies $IMOS

Goldman Sachs Group Inc. lessened its stake in shares of Chipmos Technologies (NASDAQ:IMOS) by 24.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,567 shares of the semiconductor company’s stock after selling 12,281 shares during the period. Goldman Sachs Group Inc. owned approximately 0.10% of Chipmos Technologies worth $633,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wealthquest Corp purchased a new stake in Chipmos Technologies during the 1st quarter worth approximately $52,000. Bank of America Corp DE grew its position in Chipmos Technologies by 8.6% during the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 679 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Chipmos Technologies by 35.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company’s stock worth $941,000 after purchasing an additional 14,620 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Chipmos Technologies by 14.5% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 7.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Chipmos Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th.

Chipmos Technologies Price Performance

Shares of IMOS opened at $19.91 on Thursday. The business’s 50-day moving average is $17.31 and its two-hundred day moving average is $17.63. The company has a market capitalization of $713.97 million, a P/E ratio of 221.22 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.97 and a current ratio of 2.29. Chipmos Technologies has a fifty-two week low of $12.78 and a fifty-two week high of $23.85.

Chipmos Technologies (NASDAQ:IMOS) last announced its quarterly earnings results on Tuesday, August 12th. The semiconductor company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.80). The company had revenue of $188.55 million for 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%.Chipmos Technologies’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share.

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

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.