ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Up – Here’s What Happened

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) gapped up prior to trading on Friday . The stock had previously closed at $13.71, but opened at $15.19. ChipMOS TECHNOLOGIES shares last traded at $14.63, with a volume of 3,146 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of ChipMOS TECHNOLOGIES from a “buy” rating to a “hold” rating in a report on Tuesday, January 21st.

ChipMOS TECHNOLOGIES Stock Performance

The company has a quick ratio of 2.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $18.19 and a two-hundred day moving average price of $19.65. The firm has a market cap of $529.10 million, a PE ratio of 10.19 and a beta of 0.94.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last announced its quarterly earnings data on Tuesday, February 25th. The semiconductor company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The firm had revenue of $164.70 million during the quarter, compared to analysts’ expectations of $175.60 million. During the same quarter in the previous year, the business posted $0.43 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis.

ChipMOS TECHNOLOGIES declared that its board has authorized a share repurchase program on Tuesday, January 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Trading of ChipMOS TECHNOLOGIES

Several large investors have recently bought and sold shares of IMOS. Ballentine Partners LLC boosted its holdings in shares of ChipMOS TECHNOLOGIES by 11.6% during the 4th quarter. Ballentine Partners LLC now owns 17,348 shares of the semiconductor company’s stock worth $327,000 after purchasing an additional 1,801 shares during the last quarter. XY Capital Ltd acquired a new position in ChipMOS TECHNOLOGIES during the fourth quarter worth $189,000. ABC Arbitrage SA purchased a new stake in ChipMOS TECHNOLOGIES in the 4th quarter valued at $393,000. Rhumbline Advisers grew its holdings in 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 in the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of ChipMOS TECHNOLOGIES by 34.8% in 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 during the last quarter. Hedge funds and other institutional investors own 7.39% of the company’s stock.

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.