ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sees Large Volume Increase – Still a Buy?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) shares saw strong trading volume on Friday . 42,508 shares changed hands during mid-day 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 cut shares of ChipMOS TECHNOLOGIES from a “buy” rating to a “hold” rating in a report on Tuesday.

ChipMOS TECHNOLOGIES Trading Down 0.1 %

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 firm has a 50-day moving average price of $19.11 and a 200-day moving average price of $21.74. The company has a market capitalization of $752.65 million, a price-to-earnings ratio of 14.48 and a beta of 0.86.

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

ChipMOS TECHNOLOGIES declared that its Board of Directors has authorized a share buyback program on Tuesday, January 21st that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ChipMOS TECHNOLOGIES stock. Ballentine Partners LLC increased its position in ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) by 20.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,547 shares of the semiconductor company’s stock after purchasing an additional 2,611 shares during the period. Ballentine Partners LLC’s holdings in ChipMOS TECHNOLOGIES were worth $364,000 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.