Share Repurchase Plan Announced by Chipmos Technologies (NASDAQ:IMOS)

Key Points

• Chipmos Technologies has announced a stock repurchase program, indicating that the board believes the stock is undervalued despite plans to repurchase $0.00 in shares.
• The company's stock price decreased by 3.4% to $15.19, with a trading volume surpassing its average volume, reflecting ongoing market fluctuations.
• Chipmos reported a loss of ($0.51) EPS for the last quarter, significantly missing analysts' expectations, while its revenue decreased by 1.3% year-over-year.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) declared that its board has authorized a stock repurchase program on Tuesday, September 2nd, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Chipmos Technologies Stock Down 3.4%

NASDAQ IMOS traded down $0.53 on Tuesday, reaching $15.19. The company had a trading volume of 17,666 shares, compared to its average volume of 15,178. The company's fifty day moving average is $17.34 and its 200-day moving average is $17.73. Chipmos Technologies has a 1-year low of $12.78 and a 1-year high of $23.85. 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 firm has a market capitalization of $544.71 million, a price-to-earnings ratio of 168.78 and a beta of 1.02.

Chipmos Technologies (NASDAQ:IMOS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The semiconductor company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.80). Chipmos Technologies had a return on equity of 0.47% and a net margin of 0.50%.The business had revenue of $188.55 million for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company's quarterly revenue was down 1.3% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Chipmos Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th.

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.

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