Short Interest in ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) Decreases By 17.0%

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 14,600 shares, a drop of 17.0% from the March 15th total of 17,600 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 26,200 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analyst Weigh In

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

ChipMOS TECHNOLOGIES Stock Performance

NASDAQ:IMOS traded up $0.33 during mid-day trading on Tuesday, hitting $15.42. 16,601 shares of the company traded hands, compared to its average volume of 26,760. The stock’s fifty day moving average price is $17.66 and its 200-day moving average price is $19.25. 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 firm has a market cap of $560.52 million, a price-to-earnings ratio of 10.78 and a beta of 0.94. ChipMOS TECHNOLOGIES has a one year low of $12.78 and a one year high of $28.78.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last released its quarterly earnings data on Tuesday, February 25th. The semiconductor company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.21). ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The company had revenue of $164.70 million for the quarter, compared to the consensus estimate of $175.60 million. During the same period last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis.

ChipMOS TECHNOLOGIES declared that its board has initiated a share buyback plan on Tuesday, January 21st that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

Several hedge funds have recently bought and sold shares of IMOS. Bank of America Corp DE increased its stake in 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 during the period. Parvin Asset Management LLC purchased a new stake in shares of ChipMOS TECHNOLOGIES in the fourth quarter valued at approximately $505,000. Tower Research Capital LLC TRC grew its stake in 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 worth $104,000 after purchasing an additional 5,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in ChipMOS TECHNOLOGIES by 761.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 3,609 shares during the period. Finally, Lindbrook Capital LLC lifted 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 during the period. 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.