ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sets New 52-Week Low – What’s Next?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) hit a new 52-week low on Wednesday . The company traded as low as $21.19 and last traded at $21.19, with a volume of 332 shares changing hands. The stock had previously closed at $22.35.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut ChipMOS TECHNOLOGIES from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th.

ChipMOS TECHNOLOGIES Stock Down 4.6 %

The firm has a market capitalization of $775.20 million, a P/E ratio of 13.38 and a beta of 0.91. The company has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $24.87.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter. ChipMOS TECHNOLOGIES had a net margin of 8.67% and a return on equity of 7.72%. The company had revenue of $191.70 million for the quarter.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

A number of hedge funds have recently added to or reduced their stakes in IMOS. BNP Paribas Financial Markets purchased a new position in ChipMOS TECHNOLOGIES in the 1st quarter worth about $42,000. HBK Sorce Advisory LLC purchased a new position in shares of ChipMOS TECHNOLOGIES during the first quarter valued at approximately $201,000. Blue Trust Inc. lifted its position in ChipMOS TECHNOLOGIES by 49,831.3% during the second quarter. Blue Trust Inc. now owns 7,989 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 7,973 shares during the period. Ballentine Partners LLC boosted its holdings in ChipMOS TECHNOLOGIES by 20.2% in the third quarter. Ballentine Partners LLC now owns 15,547 shares of the semiconductor company’s stock worth $364,000 after purchasing an additional 2,611 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in ChipMOS TECHNOLOGIES in the 2nd quarter worth approximately $441,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

About ChipMOS TECHNOLOGIES

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.