ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Share Price Passes Above 200-Day Moving Average - Here's Why

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.44 and traded as high as $19.19. ChipMOS TECHNOLOGIES shares last traded at $18.91, with a volume of 12,757 shares changing hands.

ChipMOS TECHNOLOGIES Price Performance

The company has a market capitalization of $682.51 million, a P/E ratio of 13.13 and a beta of 0.92. The business's 50-day moving average is $16.95 and its two-hundred day moving average is $18.41. 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 earnings results on Tuesday, May 13th. The semiconductor company reported $0.15 EPS 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 business earned $0.38 EPS.

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 paid a $0.6132 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a yield of 4.5%. ChipMOS TECHNOLOGIES's dividend payout ratio (DPR) is presently 62.24%.

ChipMOS TECHNOLOGIES announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 13th that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealthquest Corp purchased a new stake in ChipMOS TECHNOLOGIES during the first quarter worth about $52,000. Lindbrook Capital LLC grew its position in shares of ChipMOS TECHNOLOGIES by 34.8% during the 4th quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company's stock valued at $60,000 after acquiring an additional 826 shares during the period. JPMorgan Chase & Co. increased its stake in shares of ChipMOS TECHNOLOGIES by 761.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 3,609 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of ChipMOS TECHNOLOGIES by 1,000.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company's stock worth $104,000 after purchasing an additional 5,000 shares during the period. Finally, Bank of America Corp DE raised its holdings 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 worth $162,000 after purchasing an additional 679 shares during the period. 7.39% of the stock is owned by hedge funds and other 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.