Chipmos Technologies (NASDAQ:IMOS) Sees Large Volume Increase - Should You Buy?

Shares of Chipmos Technologies (NASDAQ:IMOS - Get Free Report) saw strong trading volume on Thursday . 40,494 shares traded hands during trading, an increase of 76% from the previous session's volume of 23,053 shares.The stock last traded at $19.59 and had previously closed at $19.20.

Chipmos Technologies Price Performance

The company's 50-day moving average price is $18.34 and its 200-day moving average price is $18.36. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.71 and a quick ratio of 2.40. The company has a market cap of $663.77 million, a P/E ratio of 18.89 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 analysts' consensus estimates of $0.19 by ($0.04). The business had revenue of $166.70 million during the quarter, compared to the consensus estimate of $5.26 billion. Chipmos Technologies had a net margin of 5.10% and a return on equity of 4.69%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS.

Chipmos Technologies Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a $0.6132 dividend. This represents a yield of 4.5%. The ex-dividend date of this dividend is Friday, June 27th. Chipmos Technologies's dividend payout ratio (DPR) is currently 64.29%.

Chipmos Technologies declared that its board has authorized a share repurchase plan on Tuesday, May 13th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its position in shares of Chipmos Technologies by 14.5% in the 1st quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company's stock valued at $4,206,000 after acquiring an additional 31,768 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Chipmos Technologies by 35.4% in the 1st 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 during the period. Rhumbline Advisers grew its position 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 acquiring an additional 1,680 shares during the period. Parvin Asset Management LLC bought a new position in shares of Chipmos Technologies in the 4th quarter valued at about $505,000. Finally, Bank of America Corp DE grew its position in shares of Chipmos Technologies by 8.6% in the 4th 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. Institutional investors 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.