ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sees Unusually-High Trading Volume - Here's Why

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) saw unusually-high trading volume on Friday . Approximately 33,183 shares changed hands during mid-day trading, an increase of 46% from the previous session's volume of 22,767 shares.The stock last traded at $19.13 and had previously closed at $18.54.

ChipMOS TECHNOLOGIES Stock Performance

The company has a current ratio of 3.07, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The company's 50 day moving average is $16.91 and its 200-day moving average is $18.44. The company has a market capitalization of $688.33 million, a P/E ratio of 13.24 and a beta of 0.92.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.04). ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. The business had revenue of $166.70 million during the quarter, compared to analysts' expectations of $5.26 billion. During the same quarter last year, the company posted $0.38 EPS. ChipMOS TECHNOLOGIES's revenue for the quarter was up 2.1% compared to the same quarter last year.

ChipMOS TECHNOLOGIES declared that its board has authorized a share buyback plan on Tuesday, May 13th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On ChipMOS TECHNOLOGIES

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in shares of ChipMOS TECHNOLOGIES by 8.6% during the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company's stock valued at $162,000 after acquiring an additional 679 shares in the last quarter. Lindbrook Capital LLC boosted 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 purchasing an additional 826 shares in the last quarter. Rhumbline Advisers grew its position in ChipMOS TECHNOLOGIES by 5.3% during the 4th quarter. Rhumbline Advisers now owns 33,139 shares of the semiconductor company's stock valued at $624,000 after purchasing an additional 1,680 shares during the last quarter. Wealthquest Corp bought a new stake in ChipMOS TECHNOLOGIES during the 1st quarter valued at about $52,000. Finally, JPMorgan Chase & Co. raised its holdings in ChipMOS TECHNOLOGIES by 761.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company's stock worth $77,000 after buying an additional 3,609 shares during the last quarter. 7.39% of the stock is owned by 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.