Chipmos Technologies (NASDAQ:IMOS) Sees Large Volume Increase – Time to Buy?

Chipmos Technologies (NASDAQ:IMOS) saw an uptick in trading volume on Friday . 28,664 shares traded hands during mid-day trading, a decline of 44% from the previous session’s volume of 51,063 shares.The stock last traded at $45.4340 and had previously closed at $45.77.

Analysts Set New Price Targets

Several brokerages have commented on IMOS. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chipmos Technologies in a research note on Friday, April 10th. Wall Street Zen upgraded shares of Chipmos Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The company has a market capitalization of $1.61 billion, a PE ratio of 106.07 and a beta of 1.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 2.08. The company’s 50 day simple moving average is $39.55 and its 200 day simple moving average is $32.96.

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

Hedge Funds Weigh In On Chipmos Technologies

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of Chipmos Technologies by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 91,919 shares of the semiconductor company’s stock worth $2,727,000 after acquiring an additional 356 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Chipmos Technologies by 3.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 73,380 shares of the semiconductor company’s stock worth $2,175,000 after acquiring an additional 2,240 shares during the last quarter. Rhumbline Advisers grew its position in shares of Chipmos Technologies by 51.4% during the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock worth $681,000 after acquiring an additional 12,759 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Chipmos Technologies by 3.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 27,965 shares of the semiconductor company’s stock worth $829,000 after acquiring an additional 830 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in shares of Chipmos Technologies by 5.0% during the fourth quarter. Ballentine Partners LLC now owns 21,521 shares of the semiconductor company’s stock worth $638,000 after acquiring an additional 1,028 shares during the last quarter. 7.39% of the stock is currently 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.