ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Trading Up 7.4% – Still a Buy?

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

Wall Street Analyst Weigh In

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

ChipMOS TECHNOLOGIES Stock Performance

The stock’s 50 day moving average price is $19.05 and its 200 day moving average price is $21.75. The company has a current ratio of 3.07, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $755.56 million, a price-to-earnings ratio of 14.53 and a beta of 0.86.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter. ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The business had revenue of $191.70 million during the quarter.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in ChipMOS TECHNOLOGIES stock. Blue Trust Inc. boosted its position in ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) by 18.0% during the third quarter, according to its most recent disclosure 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 reporting period. 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.