Chipmos Technologies (NASDAQ:IMOS) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Chipmos Technologies (NASDAQ:IMOS) saw unusually-strong trading volume on Friday . Approximately 46,429 shares traded hands during trading, an increase of 109% from the previous session’s volume of 22,257 shares.The stock last traded at $30.8650 and had previously closed at $27.89.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Chipmos Technologies from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chipmos Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Chipmos Technologies Stock Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 2.29 and a quick ratio of 1.97. The company has a fifty day moving average price of $20.58 and a 200 day moving average price of $18.85. The stock has a market cap of $1.11 billion, a P/E ratio of 342.44 and a beta of 1.10.

Chipmos Technologies (NASDAQ:IMOS) last issued its earnings results on Tuesday, November 11th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.20. The company had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $6.50 billion. Chipmos Technologies had a return on equity of 0.47% and a net margin of 0.50%.Chipmos Technologies’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS.

Chipmos Technologies announced that its board has approved a stock repurchase program on Tuesday, September 2nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Chipmos Technologies

Several large investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC boosted its holdings in shares of Chipmos Technologies by 110.7% in the second quarter. Ballentine Partners LLC now owns 31,793 shares of the semiconductor company’s stock worth $576,000 after acquiring an additional 16,707 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Chipmos Technologies by 66.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 69,191 shares of the semiconductor company’s stock valued at $1,253,000 after purchasing an additional 27,617 shares during the period. Acadian Asset Management LLC lifted its holdings in Chipmos Technologies by 14.5% during the 1st quarter. Acadian Asset Management LLC now owns 250,695 shares of the semiconductor company’s stock worth $4,206,000 after purchasing an additional 31,768 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Chipmos Technologies by 35.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 55,886 shares of the semiconductor company’s stock worth $941,000 after purchasing an additional 14,620 shares during the period. Finally, Wealthquest Corp bought a new position in Chipmos Technologies in the 1st quarter worth about $52,000. 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.