Chipmos Technologies (NASDAQ:IMOS) Sees Large Volume Increase – Time to Buy?

Chipmos Technologies (NASDAQ:IMOS) saw strong trading volume on Friday . 46,429 shares were traded during trading, an increase of 109% from the previous session’s volume of 22,257 shares.The stock last traded at $30.8650 and had previously closed at $27.89.

Analysts Set New Price Targets

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

Chipmos Technologies Price Performance

The stock has a fifty day moving average of $20.32 and a two-hundred day moving average of $18.74. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 342.44 and a beta of 1.10. The company has a quick ratio of 1.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.39.

Chipmos Technologies (NASDAQ:IMOS) last announced its quarterly earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.20. Chipmos Technologies had a net margin of 0.50% and a return on equity of 0.47%. The business had revenue of $201.70 million during the quarter, compared to the consensus estimate of $6.50 billion. During the same quarter last year, the firm posted $0.26 EPS. The business’s revenue was up 1.3% compared to the same quarter last year.

Chipmos Technologies announced that its board has initiated a stock buyback program on Tuesday, September 2nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Several large investors have recently added to or reduced their stakes in IMOS. Westside Investment Management Inc. boosted its stake in Chipmos Technologies by 125.5% in the 3rd quarter. Westside Investment Management Inc. now owns 2,163 shares of the semiconductor company’s stock worth $42,000 after buying an additional 1,204 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Chipmos Technologies by 131.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,866 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 1,629 shares during the last quarter. Wealthquest Corp purchased a new position in shares of Chipmos Technologies during the 1st quarter worth about $52,000. Parallel Advisors LLC boosted its position in shares of Chipmos Technologies by 44.4% in the third quarter. Parallel Advisors LLC now owns 6,142 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 1,890 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new stake in Chipmos Technologies in the third quarter valued at approximately $219,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

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.