Chipmos Technologies (NASDAQ:IMOS) Trading 8.2% Higher - Still a Buy?

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) traded up 8.2% during mid-day trading on Monday . The company traded as high as $18.80 and last traded at $20.12. 281 shares were traded during trading, a decline of 99% from the average session volume of 22,856 shares. The stock had previously closed at $18.59.

Chipmos Technologies Stock Up 1.6%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.40 and a current ratio of 2.71. The company has a market cap of $699.27 million, a P/E ratio of 19.90 and a beta of 0.96. The stock has a 50 day moving average price of $18.28 and a 200 day moving average price of $18.38.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). Chipmos Technologies had a return on equity of 4.69% and a net margin of 5.10%. The business had revenue of $166.70 million during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the firm earned $0.38 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis.

Chipmos Technologies Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be issued 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 dividend payout ratio is currently 86.73%.

Chipmos Technologies announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 13th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IMOS. Acadian Asset Management LLC raised its stake in shares of Chipmos Technologies by 14.5% in 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 in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Chipmos Technologies in the 4th quarter worth approximately $505,000. Envestnet Asset Management Inc. raised its holdings in shares of 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 during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Chipmos Technologies by 1,000.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company's stock valued at $104,000 after purchasing an additional 5,000 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position 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 worth $77,000 after acquiring an additional 3,609 shares during the last quarter. Institutional investors and hedge funds own 7.39% of the company's stock.

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.