Chipmos Technologies (NASDAQ:IMOS) Sees Unusually-High Trading Volume – Here’s Why

Chipmos Technologies (NASDAQ:IMOS) shares saw unusually-strong trading volume on Wednesday . Approximately 78,971 shares were traded during mid-day trading, an increase of 163% from the previous session’s volume of 30,025 shares.The stock last traded at $37.56 and had previously closed at $37.01.

Analyst Ratings Changes

IMOS has been the subject of several research reports. Weiss Ratings raised Chipmos Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen raised Chipmos Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, Chipmos Technologies presently has a consensus rating of “Hold”.

Chipmos Technologies Price Performance

The company has a quick ratio of 2.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 236.91 and a beta of 1.04. The business’s 50 day simple moving average is $28.73 and its 200-day simple moving average is $22.06.

Chipmos Technologies (NASDAQ:IMOS) last issued its quarterly earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.20. The company had revenue of $201.70 million during the quarter, compared to the consensus estimate of $6.50 billion. Chipmos Technologies had a net margin of 0.78% and a return on equity of 0.75%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 EPS.

Hedge Funds Weigh In On Chipmos Technologies

Several hedge funds and other institutional investors have recently modified their holdings of IMOS. Ballentine Partners LLC lifted its holdings in shares of Chipmos Technologies by 110.7% in the second quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock worth $576,000 after acquiring an additional 16,707 shares during the last quarter. Signaturefd LLC boosted its position in Chipmos Technologies by 27.0% in 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 in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Chipmos Technologies by 66.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 69,191 shares of the semiconductor company’s stock valued at $1,253,000 after buying an additional 27,617 shares in the last quarter. Envestnet Asset Management Inc. grew its stake 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 last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Chipmos Technologies by 5.9% during the second quarter. Acadian Asset Management LLC now owns 265,392 shares of the semiconductor company’s stock worth $4,795,000 after buying an additional 14,697 shares in the last quarter. Institutional investors own 7.39% of the company’s stock.

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.