ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) Sees Significant Decline in Short Interest

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 17,600 shares, a decrease of 37.4% from the February 28th total of 28,100 shares. Based on an average trading volume of 24,200 shares, the short-interest ratio is currently 0.7 days. Currently, 0.1% of the shares of the company are sold short.

ChipMOS TECHNOLOGIES Stock Performance

ChipMOS TECHNOLOGIES stock traded down $0.44 during mid-day trading on Friday, hitting $17.64. The company had a trading volume of 24,616 shares, compared to its average volume of 19,690. The company has a market capitalization of $641.43 million, a price-to-earnings ratio of 12.34 and a beta of 0.90. ChipMOS TECHNOLOGIES has a 12-month low of $17.41 and a 12-month high of $31.46. The company’s fifty day moving average is $19.23 and its 200-day moving average is $20.21. 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 earnings results on Tuesday, February 25th. The semiconductor company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The business had revenue of $164.70 million for 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%. ChipMOS TECHNOLOGIES’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in shares of ChipMOS TECHNOLOGIES by 8.6% during the 4th quarter. Bank of America Corp DE now owns 8,613 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 679 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of ChipMOS TECHNOLOGIES during the fourth quarter valued at approximately $505,000. Tower Research Capital LLC TRC lifted its position in shares of ChipMOS TECHNOLOGIES by 1,000.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 5,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ChipMOS TECHNOLOGIES by 761.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 3,609 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of ChipMOS TECHNOLOGIES by 34.8% during the fourth quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 826 shares in the last quarter. 7.39% of the stock is owned by hedge funds and other 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.