ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Board of Directors Approves Share Buyback Plan

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) declared that its Board of Directors has approved a stock buyback program on Tuesday, January 21st, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

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

ChipMOS TECHNOLOGIES Stock Performance

NASDAQ IMOS opened at $20.72 on Friday. 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 company has a fifty day moving average of $19.11 and a 200-day moving average of $21.74. ChipMOS TECHNOLOGIES has a 52-week low of $17.70 and a 52-week high of $32.19. The company has a market capitalization of $753.38 million, a P/E ratio of 14.49 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 EPS for the quarter. ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The company had revenue of $191.70 million for the quarter.

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.