ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Up – Still a Buy?

Shares of ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) gapped up before the market opened on Tuesday . The stock had previously closed at $18.24, but opened at $19.00. ChipMOS TECHNOLOGIES shares last traded at $18.57, with a volume of 6,141 shares traded.

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.

ChipMOS TECHNOLOGIES Stock Up 11.0 %

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 capitalization of $755.56 million, a P/E ratio of 14.53 and a beta of 0.86. The stock has a fifty day moving average price of $19.08 and a two-hundred day moving average price of $21.75.

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

ChipMOS TECHNOLOGIES announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

A hedge fund recently raised its stake in ChipMOS TECHNOLOGIES stock. Ballentine Partners LLC grew its stake in shares of ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,348 shares of the semiconductor company’s stock after purchasing an additional 1,801 shares during the quarter. Ballentine Partners LLC’s holdings in ChipMOS TECHNOLOGIES were worth $327,000 as of its most recent SEC filing. 7.39% of the stock is owned by institutional investors and hedge funds.

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.