ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sees Strong Trading Volume - Still a Buy?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 51,965 shares were traded during mid-day trading, an increase of 133% from the previous session's volume of 22,309 shares.The stock last traded at $17.77 and had previously closed at $17.12.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of ChipMOS TECHNOLOGIES from a "buy" rating to a "hold" rating in a report on Tuesday, January 21st.

ChipMOS TECHNOLOGIES Price Performance

The company's 50-day moving average is $16.86 and its 200-day moving average is $18.79. The firm has a market capitalization of $601.79 million, a price-to-earnings ratio of 11.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.07 and a quick ratio of 2.72.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.21). The business had revenue of $164.70 million for the quarter, compared to analysts' expectations of $175.60 million. ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. The firm's revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share.

ChipMOS TECHNOLOGIES declared that its Board of Directors has initiated a share repurchase plan on Tuesday, January 21st that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On ChipMOS TECHNOLOGIES

Several large investors have recently modified their holdings of the stock. Wealthquest Corp acquired a new position in ChipMOS TECHNOLOGIES in the 1st quarter valued at approximately $52,000. Lindbrook Capital LLC lifted its stake in shares of ChipMOS TECHNOLOGIES by 34.8% in the fourth quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company's stock valued at $60,000 after buying an additional 826 shares during the period. JPMorgan Chase & Co. raised its stake in shares of ChipMOS TECHNOLOGIES by 761.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 3,609 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in ChipMOS TECHNOLOGIES by 1,000.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company's stock valued at $104,000 after acquiring an additional 5,000 shares during the period. Finally, Bank of America Corp DE grew its position in 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 acquiring an additional 679 shares during the period. 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.