ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Stock Price Up 7.4% – Here’s Why

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) was up 7.4% during mid-day trading on Wednesday . The stock traded as high as $20.69 and last traded at $20.11. Approximately 22,707 shares were traded during trading, a decline of 1% from the average daily volume of 23,010 shares. The stock had previously closed at $18.72.

Analyst Ratings Changes

Separately, StockNews.com lowered ChipMOS TECHNOLOGIES from a “buy” rating to a “hold” rating in a research report on Tuesday.

ChipMOS TECHNOLOGIES Trading Down 0.9 %

The company has a 50-day moving average price of $19.13 and a two-hundred day moving average price of $21.70. The stock has a market cap of $746.83 million, a P/E ratio of 14.36 and a beta of 0.86. 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 announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.26 earnings per share for the quarter. The business had revenue of $191.70 million for the quarter. ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%.

ChipMOS TECHNOLOGIES declared that its board has approved a share repurchase plan on Tuesday, January 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

A hedge fund recently raised its stake in ChipMOS TECHNOLOGIES stock. Blue Trust Inc. lifted its stake in ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) by 18.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,429 shares of the semiconductor company’s stock after purchasing an additional 1,440 shares during the period. Blue Trust Inc.’s holdings in ChipMOS TECHNOLOGIES were worth $221,000 at the end of the most recent 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.