ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Trading 9.1% Higher - What's Next?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) shares were up 9.1% on Friday . The stock traded as high as $19.90 and last traded at $20.89. Approximately 1,005 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 22,753 shares. The stock had previously closed at $19.15.

ChipMOS TECHNOLOGIES Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 3.07 and a quick ratio of 2.72. The firm has a market cap of $718.88 million, a P/E ratio of 13.83 and a beta of 0.96. The stock's 50-day simple moving average is $17.13 and its two-hundred day simple moving average is $18.39.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported $0.15 EPS 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 company had revenue of $166.70 million during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the company 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 company also recently declared an annual dividend, which will be paid on Friday, July 25th. Shareholders 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 of this dividend is Friday, June 27th. ChipMOS TECHNOLOGIES's payout ratio is 62.24%.

ChipMOS TECHNOLOGIES declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 13th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

Several hedge funds and other institutional investors have recently modified their holdings of IMOS. Acadian Asset Management LLC raised its position 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 valued at $4,206,000 after purchasing an additional 31,768 shares during the last quarter. Parvin Asset Management LLC purchased a new position in ChipMOS TECHNOLOGIES during the 4th quarter worth approximately $505,000. ABC Arbitrage SA purchased a new position in ChipMOS TECHNOLOGIES during the 4th quarter worth approximately $393,000. Envestnet Asset Management Inc. raised its position in ChipMOS TECHNOLOGIES by 35.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company's stock worth $941,000 after buying an additional 14,620 shares during the last quarter. Finally, XY Capital Ltd purchased a new position in ChipMOS TECHNOLOGIES during the 4th quarter worth approximately $189,000. 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.