Chipmos Technologies (NASDAQ:IMOS) Sees Large Drop in Short Interest

Chipmos Technologies (NASDAQ:IMOS) was the recipient of a significant drop in short interest in February. As of February 27th, there was short interest totaling 15,563 shares, a drop of 20.0% from the February 12th total of 19,456 shares. Based on an average daily volume of 46,190 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 46,190 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IMOS. Wall Street Zen raised shares of 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 report on Monday, January 12th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Chipmos Technologies has an average rating of “Hold”.

Institutional Trading of Chipmos Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in shares of Chipmos Technologies by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 57,091 shares of the semiconductor company’s stock worth $1,034,000 after buying an additional 1,205 shares during the period. Creative Planning raised its holdings in shares of Chipmos Technologies by 50.3% in the 2nd quarter. Creative Planning now owns 45,283 shares of the semiconductor company’s stock valued at $820,000 after buying an additional 15,150 shares during the period. Rhumbline Advisers lifted its stake in Chipmos Technologies by 51.4% during the 2nd quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock worth $681,000 after acquiring an additional 12,759 shares in the last quarter. Bank of America Corp DE lifted its stake in Chipmos Technologies by 71.8% during the 2nd quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 4,952 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Chipmos Technologies by 131.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 1,629 shares during the period. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

Chipmos Technologies Trading Up 3.0%

Shares of IMOS stock traded up $1.18 during trading on Tuesday, hitting $40.93. 36,416 shares of the stock traded hands, compared to its average volume of 47,838. Chipmos Technologies has a 52-week low of $12.78 and a 52-week high of $45.43. The firm has a market capitalization of $1.44 billion, a P/E ratio of 95.19 and a beta of 1.00. The firm’s fifty day moving average price is $38.19 and its 200-day moving average price is $28.77. 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 (NASDAQ:IMOS) last issued its quarterly earnings data on Tuesday, February 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.12. Chipmos Technologies had a return on equity of 1.90% and a net margin of 1.88%.The company had revenue of $207.78 million during the quarter, compared to analyst estimates of $6.50 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year.

About Chipmos Technologies

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.