ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Up 6% – Here’s What Happened

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) shares were up 6% on Wednesday . The company traded as high as $19.19 and last traded at $20.06. Approximately 12,757 shares traded hands during trading, a decline of 44% from the average daily volume of 22,789 shares. The stock had previously closed at $18.92.

ChipMOS TECHNOLOGIES Price Performance

The firm has a market capitalization of $685.79 million, a P/E ratio of 13.19 and a beta of 0.92. The stock’s 50 day simple moving average is $16.93 and its 200 day simple moving average is $18.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 3.07.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The business had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $5.26 billion. ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share.

ChipMOS TECHNOLOGIES Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be paid a $0.6132 dividend. This represents a yield of 4.5%. The ex-dividend date of this dividend is Friday, June 27th. ChipMOS TECHNOLOGIES’s dividend payout ratio (DPR) is 85.71%.

ChipMOS TECHNOLOGIES announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 13th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IMOS. Wealthquest Corp bought a new stake in ChipMOS TECHNOLOGIES during the first quarter valued at about $52,000. Lindbrook Capital LLC boosted its holdings in shares of ChipMOS TECHNOLOGIES by 34.8% in the 4th quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 826 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of ChipMOS TECHNOLOGIES by 761.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company’s stock worth $77,000 after buying an additional 3,609 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of ChipMOS TECHNOLOGIES by 1,000.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company’s stock worth $104,000 after buying an additional 5,000 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in ChipMOS TECHNOLOGIES by 8.6% during the fourth quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock valued at $162,000 after acquiring an additional 679 shares during the last quarter. 7.39% of the stock is 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.