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

Shares of ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 51,965 shares were traded during 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.

Wall Street Analysts Forecast Growth

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

ChipMOS TECHNOLOGIES Stock Performance

The company has a market cap of $633.06 million, a price-to-earnings ratio of 12.17 and a beta of 0.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 3.07. The company has a fifty day moving average of $16.83 and a two-hundred day moving average of $18.72.

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

ChipMOS TECHNOLOGIES declared that its board has initiated a stock buyback plan on Tuesday, January 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

A number of hedge funds have recently modified their holdings of IMOS. Parvin Asset Management LLC acquired a new position in ChipMOS TECHNOLOGIES during the 4th quarter worth about $505,000. ABC Arbitrage SA bought a new position in shares of ChipMOS TECHNOLOGIES during the fourth quarter worth about $393,000. Envestnet Asset Management Inc. lifted its stake in shares of ChipMOS TECHNOLOGIES by 35.4% in the first quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock worth $941,000 after acquiring an additional 14,620 shares during the period. XY Capital Ltd bought a new stake in ChipMOS TECHNOLOGIES in the fourth quarter valued at approximately $189,000. Finally, Tower Research Capital LLC TRC increased its position in ChipMOS TECHNOLOGIES by 1,000.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company's stock valued at $104,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 7.39% of the company's stock.

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.