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

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) gapped up prior to trading on Tuesday . The stock had previously closed at $18.24, but opened at $19.00. ChipMOS TECHNOLOGIES shares last traded at $18.57, with a volume of 6,141 shares.

Wall Street Analysts Forecast Growth

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

ChipMOS TECHNOLOGIES Stock Performance

The firm has a market capitalization of $755.56 million, a price-to-earnings ratio of 14.53 and a beta of 0.86. 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 stock’s fifty day moving average is $19.08 and its two-hundred day moving average is $21.75.

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

ChipMOS TECHNOLOGIES announced that its Board of Directors has authorized a share 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 often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

An institutional investor recently raised its position in ChipMOS TECHNOLOGIES stock. Blue Trust Inc. increased its stake in ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) by 18.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

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.