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

Shares of ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) saw an uptick in trading volume on Friday . 42,508 shares traded hands during trading, an increase of 71% from the previous session’s volume of 24,839 shares.The stock last traded at $20.70 and had previously closed at $20.72.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded 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 debt-to-equity ratio of 0.49, a current ratio of 3.07 and a quick ratio of 2.72. The stock has a market cap of $746.83 million, a P/E ratio of 14.36 and a beta of 0.86. The stock has a 50-day simple moving average of $19.13 and a 200-day simple moving average of $21.67.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last posted its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.26 earnings per share for the quarter. The company 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 stock repurchase plan on Tuesday, January 21st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of ChipMOS TECHNOLOGIES

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