Chipmos Technologies (NASDAQ:IMOS) Shares Cross Above 200 Day Moving Average – Should You Sell?

Chipmos Technologies (NASDAQ:IMOS)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.83 and traded as high as $20.38. Chipmos Technologies shares last traded at $20.32, with a volume of 5,841 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IMOS. Wall Street Zen upgraded Chipmos Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chipmos Technologies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Chipmos Technologies Stock Up 2.4%

The firm has a market capitalization of $728.72 million, a price-to-earnings ratio of 225.78 and a beta of 1.08. The business has a 50 day simple moving average of $18.03 and a 200-day simple moving average of $17.83. 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 quarterly earnings data on Tuesday, August 12th. The semiconductor company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.80). The business had revenue of $188.55 million for the quarter, compared to analyst estimates of $5.82 billion. Chipmos Technologies had a return on equity of 0.47% and a net margin of 0.50%.The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share.

Chipmos Technologies declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 2nd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Chipmos Technologies

Institutional investors have recently added to or reduced their stakes in the business. Wealthquest Corp purchased a new stake in Chipmos Technologies during the first quarter worth approximately $52,000. GAMMA Investing LLC lifted its stake in Chipmos Technologies by 131.7% during 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. Bank of America Corp DE lifted its stake in Chipmos Technologies by 71.8% during the second quarter. Bank of America Corp DE now owns 11,852 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 4,952 shares during the last quarter. Signaturefd LLC lifted its stake in Chipmos Technologies by 27.0% during the second quarter. Signaturefd LLC now owns 22,180 shares of the semiconductor company’s stock worth $402,000 after purchasing an additional 4,716 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in Chipmos Technologies by 110.7% during the second quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock worth $576,000 after purchasing an additional 16,707 shares during the last quarter. Hedge funds and other institutional investors own 7.39% of the company’s stock.

Chipmos Technologies Company Profile

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.