ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sees Strong Trading Volume – What’s Next?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) shares saw an uptick in trading volume on Tuesday . 25,255 shares were traded during trading, an increase of 28% from the previous session’s volume of 19,802 shares.The stock last traded at $16.95 and had previously closed at $16.84.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of ChipMOS TECHNOLOGIES from a “buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

ChipMOS TECHNOLOGIES Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 3.07 and a quick ratio of 2.72. The firm’s 50-day moving average price is $19.21 and its 200 day moving average price is $20.16. The firm has a market capitalization of $610.70 million, a price-to-earnings ratio of 11.74 and a beta of 0.90.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last announced its earnings results on Tuesday, February 25th. The semiconductor company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The company had revenue of $164.70 million for the quarter, compared to analyst estimates of $175.60 million. During the same quarter last year, the company posted $0.43 EPS. ChipMOS TECHNOLOGIES’s quarterly revenue was down 5.7% compared to the same quarter last year.

ChipMOS TECHNOLOGIES declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 21st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On ChipMOS TECHNOLOGIES

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of ChipMOS TECHNOLOGIES by 8.6% in the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock valued at $162,000 after buying an additional 679 shares during the last quarter. Lindbrook Capital LLC grew its stake in ChipMOS TECHNOLOGIES by 34.8% in the 4th quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 826 shares during the period. Rhumbline Advisers raised its holdings in ChipMOS TECHNOLOGIES by 5.3% in the 4th quarter. Rhumbline Advisers now owns 33,139 shares of the semiconductor company’s stock valued at $624,000 after acquiring an additional 1,680 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of ChipMOS TECHNOLOGIES by 11.6% during the 4th quarter. Ballentine Partners LLC now owns 17,348 shares of the semiconductor company’s stock worth $327,000 after purchasing an additional 1,801 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of ChipMOS TECHNOLOGIES by 761.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 3,609 shares during the period. 7.39% of the stock is owned by institutional investors and hedge funds.

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.