ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sees Large Volume Increase – Here’s What Happened

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) saw unusually-strong trading volume on Tuesday . Approximately 24,532 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 22,835 shares.The stock last traded at $20.05 and had previously closed at $19.25.

ChipMOS TECHNOLOGIES Trading Up 0.2%

The stock has a 50-day simple moving average of $17.63 and a two-hundred day simple moving average of $18.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 3.07. The firm has a market cap of $704.33 million, a PE ratio of 13.73 and a beta of 0.96.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last issued its earnings results 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). The company had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $5.26 billion. ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. The company’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 business posted $0.38 EPS.

ChipMOS TECHNOLOGIES Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.6132 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a dividend yield of 4.5%. ChipMOS TECHNOLOGIES’s dividend payout ratio is currently 62.24%.

ChipMOS TECHNOLOGIES declared that its board has authorized a stock buyback program on Tuesday, May 13th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wealthquest Corp purchased a new position in shares of ChipMOS TECHNOLOGIES during the 1st quarter valued at about $52,000. Lindbrook Capital LLC increased its stake in 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 buying an additional 826 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in ChipMOS TECHNOLOGIES by 761.4% during 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 period. Tower Research Capital LLC TRC lifted its position 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 acquiring an additional 5,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in ChipMOS TECHNOLOGIES by 8.6% in the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 679 shares in the last quarter. Hedge funds and other institutional investors 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.