Published On: Tue, Sep 13th, 2016

Chipmos Technologies Ltd. (IMOS) Upgraded by Zacks Investment Research to Buy

Chipmos Technologies Ltd. (NASDAQ:IMOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $22.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 10.08% from the stock’s previous close.
According to Zacks, “ChipMOS Technologies is an independent provider of total semiconductor testing and packaging solutions to fabless companies, integrated device manufacturers and foundries. They provide a broad range of back-end testing services for high density memory, mixed-signal and liquid crystal display driver semiconductors. “
Separately, Cowen and Company boosted their price objective on shares of Chipmos Technologies from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th.

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Chipmos Technologies (NASDAQ:IMOS) traded up 0.025% during trading on Monday, hitting $19.985. The stock had a trading volume of 58,796 shares. The stock’s 50-day moving average price is $18.84 and its 200-day moving average price is $17.98. The company has a market capitalization of $546.13 million, a P/E ratio of 27.912 and a beta of 1.18. Chipmos Technologies has a 1-year low of $14.35 and a 1-year high of $20.78.
Chipmos Technologies (NASDAQ:IMOS) last released its earnings results on Wednesday, August 10th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.10. Chipmos Technologies had a net margin of 3.30% and a return on equity of 3.42%. The business had revenue of $146.70 million for the quarter, compared to analysts’ expectations of $146.60 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. Analysts expect that Chipmos Technologies will post $0.65 earnings per share for the current year.
A number of large investors have recently bought and sold shares of IMOS. Teachers Advisors Inc. increased its stake in shares of Chipmos Technologies by 6.1% in the first quarter. Teachers Advisors Inc. now owns 453,386 shares of the company’s stock worth $7,880,000 after buying an additional 26,093 shares during the last quarter. BlackRock Inc. increased its stake in shares of Chipmos Technologies by 2,556.7% in the first quarter. BlackRock Inc. now owns 18,597 shares of the company’s stock worth $323,000 after buying an additional 17,897 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Chipmos Technologies by 5,128.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 258,513 shares of the company’s stock worth $4,493,000 after buying an additional 253,569 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Chipmos Technologies by 23.2% in the first quarter. JPMorgan Chase & Co. now owns 125,829 shares of the company’s stock worth $2,187,000 after buying an additional 23,691 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Chipmos Technologies by 12.0% in the first quarter. Renaissance Technologies LLC now owns 1,255,300 shares of the company’s stock worth $21,817,000 after buying an additional 134,200 shares during the last quarter. 61.30% of the stock is owned by institutional investors and hedge funds.
About Chipmos Technologies
ChipMOS TECHNOLOGIES (Bermuda) LTD. is a holding company. The Company is a provider of semiconductor assembly and test services. The Company provides testing and assembly services for liquid crystal display (LCD) and other flat-panel display driver semiconductors in Taiwan, and for memory and logic/mixed-signal products in Taiwan and Mainland China.
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