ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Sees Unusually-High Trading Volume – Still a Buy?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) shares saw unusually-strong trading volume on Friday . Approximately 42,508 shares changed hands during mid-day trading, an increase of 71% from the previous session’s volume of 24,839 shares.The stock last traded at $20.70 and had previously closed at $20.72.

Wall Street Analyst Weigh In

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

ChipMOS TECHNOLOGIES Stock Down 0.9 %

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 stock’s 50-day simple moving average is $19.13 and its 200 day simple moving average is $21.67. The firm has a market cap of $746.83 million, a P/E ratio of 14.36 and a beta of 0.86.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.26 EPS 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 for the quarter.

ChipMOS TECHNOLOGIES declared that its board has initiated a share repurchase program on Tuesday, January 21st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Trading of ChipMOS TECHNOLOGIES

A hedge fund recently raised its stake in ChipMOS TECHNOLOGIES stock. Ballentine Partners LLC raised its holdings in ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) by 20.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,547 shares of the semiconductor company’s stock after buying an additional 2,611 shares during the period. Ballentine Partners LLC’s holdings in ChipMOS TECHNOLOGIES were worth $364,000 as of its most recent filing with the Securities and Exchange Commission. 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.