Chipmos Technologies (NASDAQ:IMOS) Sees Unusually-High Trading Volume - What's Next?

Shares of Chipmos Technologies (NASDAQ:IMOS - Get Free Report) saw strong trading volume on Tuesday . 24,532 shares changed hands during trading, an increase of 7% from the previous session's volume of 22,835 shares.The stock last traded at $20.05 and had previously closed at $19.25.

Chipmos Technologies Price Performance

The company has a market capitalization of $666.64 million, a PE ratio of 18.97 and a beta of 0.96. The stock's 50-day moving average is $17.95 and its two-hundred day moving average is $18.40. The company has a current ratio of 2.71, a quick ratio of 2.40 and a debt-to-equity ratio of 0.42.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). Chipmos Technologies had a return on equity of 4.69% and a net margin of 5.10%. The company had revenue of $166.70 million during the quarter, compared to analysts' expectations of $5.26 billion. During the same period in the prior year, the business earned $0.38 EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis.

Chipmos Technologies Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be issued a $0.6132 dividend. The ex-dividend date is Friday, June 27th. This represents a dividend yield of 4.5%. Chipmos Technologies's payout ratio is currently 86.73%.

Chipmos Technologies announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 13th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Chipmos Technologies

A number of large investors have recently added to or reduced their stakes in IMOS. Acadian Asset Management LLC grew its holdings in Chipmos Technologies by 14.5% in the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company's stock worth $4,206,000 after purchasing an additional 31,768 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Chipmos Technologies by 35.4% during the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock valued at $941,000 after acquiring an additional 14,620 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of 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 purchasing an additional 1,680 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Chipmos Technologies in the fourth quarter worth about $505,000. Finally, Bank of America Corp DE boosted its position in 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 worth $162,000 after purchasing an additional 679 shares in the last quarter. 7.39% of the stock is currently owned by 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.