Chipmos Technologies (NASDAQ:IMOS) Stock Price Down 6.8% – What’s Next?

Chipmos Technologies (NASDAQ:IMOS – Get Free Report)’s stock price fell 6.8% during mid-day trading on Thursday. The company traded as low as $63.56 and last traded at $64.46. 33,020 shares changed hands during trading, a decline of 61% from the average daily volume of 85,422 shares. The stock had previously closed at $69.19.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Chipmos Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Check Out Our Latest Analysis on IMOS

Chipmos Technologies Stock Down 7.2%

The company has a 50-day moving average price of $61.98 and a 200 day moving average price of $57.33. The firm has a market capitalization of $2.26 billion, a PE ratio of 31.34 and a beta of 1.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.39 and a quick ratio of 1.94.

Chipmos Technologies (NASDAQ:IMOS – Get Free Report) last released its earnings results on Tuesday, August 11th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.16. The firm had revenue of $231.81 million during the quarter, compared to analysts’ expectations of $236.95 million. Chipmos Technologies had a return on equity of 9.19% and a net margin of 8.30%. The firm’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) earnings per share.

Institutional Investors Weigh In On Chipmos Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its stake in Chipmos Technologies by 163.0% during the first quarter. NewEdge Advisors LLC now owns 797 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 494 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Chipmos Technologies in the 2nd quarter valued at $235,000. GAMMA Investing LLC increased its holdings in Chipmos Technologies by 21.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,100 shares of the semiconductor company’s stock valued at $294,000 after acquiring an additional 737 shares during the last quarter. Foster Group Inc. purchased a new stake in Chipmos Technologies in the 2nd quarter worth $339,000. Finally, Kathmere Capital Management LLC purchased a new stake in Chipmos Technologies in the 1st quarter worth $204,000. 7.39% of the stock is owned by hedge funds and other institutional investors.

About Chipmos Technologies

(Get Free Report)

ChipMOS Technologies Inc is a Taiwan-based semiconductor assembly and testing company that provides outsourced semiconductor packaging and testing services. The company supports integrated-circuit manufacturers and electronics companies by handling portions of the back-end semiconductor production process, including wafer testing, assembly, packaging, and final testing.

Its service and product offerings include packaging and testing for memory, logic, mixed-signal, and display driver integrated circuits.

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