ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) Short Interest Down 17.0% in March

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) was the recipient of a large 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.

ChipMOS TECHNOLOGIES Stock Performance

ChipMOS TECHNOLOGIES stock traded up $0.06 during trading hours on Friday, reaching $16.06. 856 shares of the stock were exchanged, compared to its average volume of 21,410. 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 firm's 50 day moving average is $17.37 and its 200 day moving average is $19.15. ChipMOS TECHNOLOGIES has a 52-week low of $12.78 and a 52-week high of $28.78. The stock has a market cap of $583.79 million, a P/E ratio of 11.23 and a beta of 0.94.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last issued its 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 company had revenue of $164.70 million for the quarter, compared to analysts' expectations of $175.60 million. ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%. ChipMOS TECHNOLOGIES's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share.

ChipMOS TECHNOLOGIES announced that its board has authorized a stock buyback plan on Tuesday, January 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IMOS. Wealthquest Corp purchased a new stake in shares of ChipMOS TECHNOLOGIES in the first quarter valued at about $52,000. Lindbrook Capital LLC boosted its stake 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 valued at $60,000 after acquiring an additional 826 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in 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 valued at $104,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake 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. Institutional investors and hedge funds own 7.39% of the company's stock.

Analysts Set New Price Targets

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

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.