Chipmos Technologies (NASDAQ:IMOS) Shares Gap Up After Strong Earnings

Shares of Chipmos Technologies (NASDAQ:IMOS) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $35.07, but opened at $37.06. Chipmos Technologies shares last traded at $38.8340, with a volume of 13,879 shares changing hands.

The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.12. Chipmos Technologies had a net margin of 0.78% and a return on equity of 0.75%. The business had revenue of $207.78 million during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue was up 26.2% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IMOS shares. Wall Street Zen upgraded Chipmos Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Weiss Ratings upgraded shares of Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Chipmos Technologies presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in shares of Chipmos Technologies by 16,828.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,185 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 1,178 shares during the period. Allworth Financial LP increased its position in shares of Chipmos Technologies by 74.7% during the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 587 shares in the last quarter. Smartleaf Asset Management LLC bought a new position in Chipmos Technologies during the 4th quarter valued at about $54,000. Westside Investment Management Inc. boosted its position in Chipmos Technologies by 125.5% in the third quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 1,204 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Chipmos Technologies by 131.7% in the third quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 1,629 shares in the last quarter. 7.39% of the stock is currently owned by institutional investors and hedge funds.

Chipmos Technologies Price Performance

The stock has a market capitalization of $1.41 billion, a P/E ratio of 249.88 and a beta of 1.04. The company’s 50 day simple moving average is $35.00 and its two-hundred day simple moving average is $26.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.47 and a quick ratio of 2.12.

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.