Chipmos Technologies (NASDAQ:IMOS) Trading 19.9% Higher Following Better-Than-Expected Earnings

Chipmos Technologies (NASDAQ:IMOS) shot up 19.9% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $42.44 and last traded at $42.0450. 7,148 shares were traded during mid-day trading, a decline of 83% from the average session volume of 42,781 shares. The stock had previously closed at $35.07.

The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.50 billion. During the same period in the prior year, the firm earned $0.19 earnings per share. Chipmos Technologies’s revenue for the quarter was up 26.2% on a year-over-year basis.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMOS. Allworth Financial LP increased its stake in Chipmos Technologies by 74.7% in the 3rd quarter. Allworth Financial LP now owns 1,373 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 587 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Chipmos Technologies by 16,828.6% in 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 in the last quarter. Westside Investment Management Inc. increased its position in shares of 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. Smartleaf Asset Management LLC bought a new stake in Chipmos Technologies during the fourth quarter worth $54,000. 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 worth $55,000 after purchasing an additional 1,629 shares during the last quarter. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

Chipmos Technologies Price Performance

The stock has a market cap of $1.49 billion, a P/E ratio of 98.33 and a beta of 1.04. The business has a 50 day simple moving average of $35.30 and a 200-day simple moving average of $26.34. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.12 and a current ratio of 2.47.

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.