Chipmos Technologies (NASDAQ:IMOS) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Chipmos Technologies (NASDAQ:IMOS)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.42 and traded as high as $39.25. Chipmos Technologies shares last traded at $39.05, with a volume of 110,102 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. 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 raised 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 data from MarketBeat, Chipmos Technologies has an average rating of “Hold”.

Chipmos Technologies Stock Performance

The company has a current ratio of 2.47, a quick ratio of 2.12 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.38 billion, a P/E ratio of 90.81 and a beta of 0.99. The business’s 50 day simple moving average is $38.53 and its two-hundred day simple moving average is $29.42.

Chipmos Technologies (NASDAQ:IMOS) last posted its quarterly earnings results on Tuesday, February 24th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.12. Chipmos Technologies had a net margin of 1.88% and a return on equity of 1.90%. The firm had revenue of $207.78 million for the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis.

Institutional Investors Weigh In On Chipmos Technologies

Several institutional investors have recently modified their holdings of IMOS. Creative Planning lifted its holdings in shares of Chipmos Technologies by 50.3% during 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. ABC Arbitrage SA bought a new stake in shares of Chipmos Technologies in the third quarter worth $290,000. Westside Investment Management Inc. increased its position in Chipmos Technologies by 125.5% during the third quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 1,204 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Chipmos Technologies by 2.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 71,140 shares of the semiconductor company’s stock valued at $1,361,000 after acquiring an additional 1,949 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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 acquiring an additional 1,629 shares during the period. 7.39% of the stock is owned by hedge funds and other institutional investors.

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.