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

Shares of ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) saw unusually-high trading volume on Monday . Approximately 18,041 shares traded hands during trading, a decline of 21% from the previous session's volume of 22,819 shares.The stock last traded at $19.56 and had previously closed at $19.15.

ChipMOS TECHNOLOGIES Trading Down 1.2%

The company has a quick ratio of 2.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.49. The firm's 50 day simple moving average is $17.41 and its two-hundred day simple moving average is $18.41. The stock has a market cap of $710.07 million, a P/E ratio of 13.85 and a beta of 0.96.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last released its earnings results on Tuesday, May 13th. The semiconductor company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $166.70 million for the quarter, compared to the consensus estimate of $5.26 billion. ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 EPS.

ChipMOS TECHNOLOGIES Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be given a dividend of $0.6132 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a dividend yield of 4.5%. ChipMOS TECHNOLOGIES's dividend payout ratio is currently 62.24%.

ChipMOS TECHNOLOGIES declared that its board has approved a stock repurchase program on Tuesday, May 13th that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its position in shares of ChipMOS TECHNOLOGIES by 14.5% during the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company's stock worth $4,206,000 after acquiring an additional 31,768 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in 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 purchasing an additional 14,620 shares during the period. Rhumbline Advisers lifted its holdings in ChipMOS TECHNOLOGIES by 5.3% in the fourth quarter. Rhumbline Advisers now owns 33,139 shares of the semiconductor company's stock worth $624,000 after purchasing an additional 1,680 shares during the period. Parvin Asset Management LLC acquired a new stake in ChipMOS TECHNOLOGIES in the fourth quarter worth about $505,000. Finally, ABC Arbitrage SA acquired a new stake in ChipMOS TECHNOLOGIES in the fourth quarter worth about $393,000. Institutional investors own 7.39% of the company's stock.

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.