Short Interest in ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) Declines By 22.4%

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 28,100 shares, a decrease of 22.4% from the February 13th total of 36,200 shares. Based on an average daily volume of 25,400 shares, the short-interest ratio is presently 1.1 days. Currently, 0.1% of the company’s stock are short sold.

Analysts Set New Price Targets

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

ChipMOS TECHNOLOGIES Stock Performance

NASDAQ:IMOS traded down $0.13 during mid-day trading on Wednesday, hitting $18.51. 21,093 shares of the company’s stock traded hands, compared to its average volume of 19,622. The firm has a 50 day moving average of $19.23 and a two-hundred day moving average of $20.43. ChipMOS TECHNOLOGIES has a 12 month low of $17.41 and a 12 month high of $32.19. The firm has a market capitalization of $672.88 million, a price-to-earnings ratio of 12.94 and a beta of 0.90. The company has a current ratio of 3.07, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last posted its quarterly earnings results 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 firm had revenue of $164.70 million during the quarter, compared to analyst estimates of $175.60 million. ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS.

ChipMOS TECHNOLOGIES declared that its board has approved a stock repurchase plan on Tuesday, January 21st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

Hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC raised 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 worth $60,000 after buying an additional 826 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings 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 in the last quarter. Bank of America Corp DE raised its holdings in shares of ChipMOS TECHNOLOGIES by 8.6% in the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock worth $162,000 after buying an additional 679 shares in the last quarter. Finally, XY Capital Ltd acquired a new position in shares of ChipMOS TECHNOLOGIES in the 4th quarter worth approximately $189,000. 7.39% of the stock is owned by institutional investors and hedge funds.

ChipMOS TECHNOLOGIES Company Profile

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.