ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Pass Above 200 Day Moving Average - Here's Why

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $18.40 and traded as high as $19.14. ChipMOS TECHNOLOGIES shares last traded at $18.55, with a volume of 11,097 shares traded.

ChipMOS TECHNOLOGIES Stock Up 2.6%

The firm has a market cap of $714.15 million, a price-to-earnings ratio of 13.73 and a beta of 0.96. The business's 50-day moving average is $17.02 and its 200-day moving average is $18.40. 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 issued its quarterly earnings data 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 firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $5.26 billion. ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. ChipMOS TECHNOLOGIES's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share.

ChipMOS TECHNOLOGIES Cuts Dividend

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

ChipMOS TECHNOLOGIES announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 13th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows 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.

Institutional Trading of ChipMOS TECHNOLOGIES

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in ChipMOS TECHNOLOGIES by 8.6% during the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company's stock worth $162,000 after buying an additional 679 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of ChipMOS TECHNOLOGIES by 34.8% in the fourth quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company's stock worth $60,000 after acquiring an additional 826 shares during the last quarter. Rhumbline Advisers lifted its position in shares of ChipMOS TECHNOLOGIES by 5.3% during 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 in the last quarter. Wealthquest Corp acquired a new position in shares of ChipMOS TECHNOLOGIES during the first quarter worth approximately $52,000. Finally, JPMorgan Chase & Co. grew its stake in shares of ChipMOS TECHNOLOGIES by 761.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 3,609 shares during the last quarter. 7.39% of the stock is currently owned by institutional investors and hedge funds.

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.