ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Trading 6% Higher - Still a Buy?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report)'s stock price was up 6% during mid-day trading on Wednesday . The company traded as high as $19.19 and last traded at $20.06. Approximately 12,757 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 22,789 shares. The stock had previously closed at $18.92.

ChipMOS TECHNOLOGIES Stock Performance

The stock has a market capitalization of $695.42 million, a PE ratio of 13.37 and a beta of 0.92. The stock has a 50 day moving average of $16.91 and a two-hundred day moving average of $18.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.07 and a quick ratio of 2.72.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last issued its quarterly 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). ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. The business had revenue of $166.70 million for the quarter, compared to analysts' expectations of $5.26 billion. During the same period in the prior year, the company earned $0.38 EPS. The company's revenue for the quarter was up 2.1% compared to the same quarter last year.

ChipMOS TECHNOLOGIES announced that its board has initiated a share buyback plan on Tuesday, May 13th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of ChipMOS TECHNOLOGIES

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its position in shares of ChipMOS TECHNOLOGIES by 14.5% during the first quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company's stock valued at $4,206,000 after purchasing an additional 31,768 shares during the period. Wealthquest Corp acquired a new position in shares of ChipMOS TECHNOLOGIES in the 1st quarter valued at approximately $52,000. Envestnet Asset Management Inc. raised its position in 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 buying an additional 14,620 shares during the last quarter. Bank of America Corp DE lifted its stake in 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 in the last quarter. Finally, Parvin Asset Management LLC bought a new position in shares of ChipMOS TECHNOLOGIES during the 4th quarter worth approximately $505,000. 7.39% of the stock is owned by hedge funds and other institutional investors.

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.

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