ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Hits New 1-Year Low - Should You Sell?

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $17.69 and last traded at $17.67, with a volume of 18697 shares traded. The stock had previously closed at $17.78.

Analysts Set New Price Targets

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

ChipMOS TECHNOLOGIES Stock Down 1.7 %

The business's 50 day moving average price is $19.29 and its 200-day moving average price is $20.64. 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 has a market capitalization of $635.61 million, a PE ratio of 12.22 and a beta of 0.90.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last released its earnings results on Tuesday, February 25th. The semiconductor company reported $0.19 earnings per share 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 firm had revenue of $164.70 million during the quarter, compared to analyst estimates of $175.60 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The business's revenue was down 5.7% compared to the same quarter last year.

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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 shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

A number of institutional investors have recently modified their holdings 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 valued at $162,000 after buying an additional 679 shares during the period. Parvin Asset Management LLC purchased a new position in ChipMOS TECHNOLOGIES during the fourth quarter worth about $505,000. Tower Research Capital LLC TRC lifted its position 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 valued at $104,000 after purchasing an additional 5,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in ChipMOS TECHNOLOGIES by 761.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 3,609 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in ChipMOS TECHNOLOGIES by 34.8% during the 4th quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 826 shares during the period. 7.39% of the stock is owned by institutional investors and hedge funds.

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.

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