ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sets New 1-Year Low – Here’s Why

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $17.69 and last traded at $17.67, with a volume of 18697 shares traded. The stock had previously closed at $17.78.

Wall Street Analyst Weigh In

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

ChipMOS TECHNOLOGIES Trading Down 1.7 %

The company has a quick ratio of 2.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $661.06 million, a PE ratio of 12.71 and a beta of 0.90. The stock’s fifty day simple moving average is $19.26 and its 200 day simple moving average is $20.59.

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

ChipMOS TECHNOLOGIES declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of ChipMOS TECHNOLOGIES

Several institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers increased its stake in ChipMOS TECHNOLOGIES by 5.3% in the 4th quarter. Rhumbline Advisers now owns 33,139 shares of the semiconductor company’s stock worth $624,000 after buying an additional 1,680 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of ChipMOS TECHNOLOGIES in the fourth quarter worth about $505,000. ABC Arbitrage SA purchased a new stake in shares of ChipMOS TECHNOLOGIES during the fourth quarter worth about $393,000. Ballentine Partners LLC grew its position in shares of ChipMOS TECHNOLOGIES by 11.6% during the fourth quarter. Ballentine Partners LLC now owns 17,348 shares of the semiconductor company’s stock worth $327,000 after purchasing an additional 1,801 shares in the last quarter. Finally, XY Capital Ltd bought a new stake in ChipMOS TECHNOLOGIES during the 4th quarter valued at approximately $189,000. 7.39% of the stock is currently owned by institutional investors.

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.