ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sees Strong Trading Volume – Here’s What Happened

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) shares saw strong trading volume on Monday . 18,041 shares were traded during trading, a decline of 21% from the previous session’s volume of 22,819 shares.The stock last traded at $19.56 and had previously closed at $19.15.

ChipMOS TECHNOLOGIES Stock Up 0.6%

The firm’s fifty day simple moving average is $17.08 and its two-hundred day simple moving average is $18.38. The company has a market capitalization of $718.33 million, a price-to-earnings ratio of 13.81 and a beta of 0.96. The company has a current ratio of 3.07, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last posted its 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). The business had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $5.26 billion. ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. ChipMOS TECHNOLOGIES’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS.

ChipMOS TECHNOLOGIES Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be paid a dividend of $0.6132 per share. This represents a 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 has approved a stock buyback program on Tuesday, May 13th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On ChipMOS TECHNOLOGIES

A number of hedge funds and other institutional investors have recently modified their holdings of IMOS. XY Capital Ltd purchased a new position in ChipMOS TECHNOLOGIES in the fourth quarter valued at approximately $189,000. ABC Arbitrage SA purchased a new position in shares of ChipMOS TECHNOLOGIES in the 4th quarter valued at $393,000. Rhumbline Advisers grew its position in shares of ChipMOS TECHNOLOGIES by 5.3% in the 4th quarter. Rhumbline Advisers now owns 33,139 shares of the semiconductor company’s stock valued at $624,000 after buying an additional 1,680 shares during the last quarter. Lindbrook Capital LLC raised its stake in ChipMOS TECHNOLOGIES by 34.8% during the 4th quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 826 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in ChipMOS TECHNOLOGIES by 761.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 3,609 shares during the last quarter. 7.39% of the stock is currently owned by institutional investors and hedge funds.

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.