ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) Sees Significant Drop in Short Interest

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 36,200 shares, a drop of 23.8% from the January 31st total of 47,500 shares. Based on an average daily trading volume, of 25,700 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

A number of large investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its holdings 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 valued at $60,000 after acquiring an additional 826 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of ChipMOS TECHNOLOGIES by 761.4% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of ChipMOS TECHNOLOGIES by 1,000.0% in the 4th 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. Bank of America Corp DE grew its holdings in shares of 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 valued at $162,000 after acquiring an additional 679 shares in the last quarter. Finally, XY Capital Ltd bought a new position in shares of ChipMOS TECHNOLOGIES in the 4th quarter valued at about $189,000. Institutional investors own 7.39% of the company’s stock.

ChipMOS TECHNOLOGIES Price Performance

IMOS stock opened at $18.20 on Tuesday. The stock has a 50-day moving average price of $19.38 and a two-hundred day moving average price of $20.85. The stock has a market cap of $661.79 million, a PE ratio of 12.73 and a beta of 0.85. 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 has a 1 year low of $17.70 and a 1 year high of $32.19.

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

ChipMOS TECHNOLOGIES declared that its board has initiated a share buyback program on Tuesday, January 21st that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.