ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Up - Should You Buy?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $16.09, but opened at $16.50. ChipMOS TECHNOLOGIES shares last traded at $16.39, with a volume of 3,293 shares.

Wall Street Analysts Forecast Growth

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

ChipMOS TECHNOLOGIES Stock Up 3.9 %

The business's 50-day moving average is $16.93 and its two-hundred day moving average is $18.87. The firm has a market capitalization of $646.52 million, a price-to-earnings ratio of 12.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 3.07.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last posted its 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). ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. The firm had revenue of $164.70 million during the quarter, compared to analyst estimates of $175.60 million. During the same quarter last year, the business posted $0.43 earnings per share. The company's revenue for the quarter was down 5.7% on a year-over-year basis.

ChipMOS TECHNOLOGIES declared that its board has authorized a stock buyback program on Tuesday, January 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On ChipMOS TECHNOLOGIES

Several large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its stake 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 valued at $941,000 after buying an additional 14,620 shares in the last quarter. Rhumbline Advisers raised its stake 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 purchasing an additional 1,680 shares during the period. Parvin Asset Management LLC acquired a new position in shares of ChipMOS TECHNOLOGIES during the fourth quarter worth about $505,000. ABC Arbitrage SA acquired a new position in shares of ChipMOS TECHNOLOGIES during the fourth quarter worth about $393,000. Finally, Ballentine Partners LLC grew its holdings in shares of ChipMOS TECHNOLOGIES by 11.6% during the fourth quarter. Ballentine Partners LLC now owns 17,348 shares of the semiconductor company's stock worth $327,000 after buying an additional 1,801 shares in the last quarter. 7.39% of the stock is currently 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.