ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Trading Up 7.4% – Should You Buy?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) shares were up 7.4% during mid-day trading on Wednesday . The stock traded as high as $20.69 and last traded at $20.11. Approximately 22,707 shares traded hands during trading, a decline of 1% from the average daily volume of 23,010 shares. The stock had previously closed at $18.72.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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 quick ratio of 2.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $19.05 and a two-hundred day simple moving average of $21.75. The company has a market capitalization of $755.56 million, a price-to-earnings ratio of 14.53 and a beta of 0.86.

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

ChipMOS TECHNOLOGIES announced that its Board of Directors has approved a stock repurchase plan on Tuesday, January 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of ChipMOS TECHNOLOGIES

A hedge fund recently raised its stake in ChipMOS TECHNOLOGIES stock. Blue Trust Inc. lifted its position in ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) by 18.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,429 shares of the semiconductor company’s stock after buying an additional 1,440 shares during the period. Blue Trust Inc.’s holdings in ChipMOS TECHNOLOGIES were worth $221,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 7.39% of the company’s stock.

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.