ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Up - Still a Buy?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $18.55, but opened at $19.37. ChipMOS TECHNOLOGIES shares last traded at $19.25, with a volume of 616 shares.

ChipMOS TECHNOLOGIES Price Performance

The business's 50 day moving average is $17.02 and its two-hundred day moving average is $18.40. The firm has a market cap of $759.60 million, a P/E ratio of 14.61 and a beta of 0.96. The company has a quick ratio of 2.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.49.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last posted its quarterly 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). ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The company had revenue of $166.70 million during the quarter, compared to the consensus estimate of $5.26 billion. During the same period last year, the firm posted $0.38 earnings per share. The company's revenue for the quarter was up 2.1% on a year-over-year basis.

ChipMOS TECHNOLOGIES Cuts Dividend

The firm also recently announced 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. This represents a dividend yield of 4.5%. The ex-dividend date is Friday, June 27th. ChipMOS TECHNOLOGIES's payout ratio is presently 62.24%.

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

Institutional Investors Weigh In On ChipMOS TECHNOLOGIES

A number of hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings 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 worth $4,206,000 after purchasing an additional 31,768 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of ChipMOS TECHNOLOGIES by 35.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock valued at $941,000 after buying an additional 14,620 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of ChipMOS TECHNOLOGIES by 5.3% during the 4th quarter. Rhumbline Advisers now owns 33,139 shares of the semiconductor company's stock valued at $624,000 after buying an additional 1,680 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of ChipMOS TECHNOLOGIES during the 4th quarter valued at approximately $505,000. Finally, ABC Arbitrage SA purchased a new stake in shares of ChipMOS TECHNOLOGIES during the 4th quarter valued at approximately $393,000. 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.