Chipmos Technologies (NASDAQ:IMOS) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Chipmos Technologies (NASDAQ:IMOS) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Chipmos Technologies Stock Performance

Shares of NASDAQ:IMOS opened at $18.32 on Friday. The firm has a market cap of $656.96 million, a PE ratio of 203.56 and a beta of 1.03. The firm’s 50 day simple moving average is $17.15 and its 200-day simple moving average is $17.57. Chipmos Technologies has a one year low of $12.78 and a one year high of $23.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.97 and a current ratio of 2.29.

Chipmos Technologies (NASDAQ:IMOS) last issued its earnings results on Tuesday, August 12th. The semiconductor company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.80). The company had revenue of $188.55 million for the quarter, compared to analysts’ expectations of $5.82 billion. Chipmos Technologies had a return on equity of 0.47% and a net margin of 0.50%.The business’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share.

Chipmos Technologies declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 2nd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in Chipmos Technologies by 8.6% during the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock valued at $162,000 after buying an additional 679 shares during the period. Envestnet Asset Management Inc. increased its holdings in Chipmos Technologies by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 57,091 shares of the semiconductor company’s stock valued at $1,034,000 after buying an additional 1,205 shares during the period. Wealthquest Corp purchased a new position in Chipmos Technologies during the first quarter valued at approximately $52,000. Signaturefd LLC increased its holdings in Chipmos Technologies by 27.0% during the second quarter. Signaturefd LLC now owns 22,180 shares of the semiconductor company’s stock valued at $402,000 after buying an additional 4,716 shares during the period. Finally, Rhumbline Advisers increased its holdings in Chipmos Technologies by 51.4% during the second quarter. Rhumbline Advisers now owns 37,595 shares of the semiconductor company’s stock valued at $681,000 after buying an additional 12,759 shares during the period. 7.39% of the stock is owned by hedge funds and other institutional investors.

About Chipmos Technologies

ChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in the People’s Republic of China, Taiwan, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and Other Display Panel Driver Semiconductors; Bumping; and Others segments.