ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Hits New 12-Month Low - What's Next?

Shares of ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $13.80 and last traded at $14.31, with a volume of 33423 shares trading hands. The stock had previously closed at $15.22.

Wall Street Analyst Weigh In

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

ChipMOS TECHNOLOGIES Price Performance

The company's 50-day simple moving average is $18.12 and its 200-day simple moving average is $19.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.07 and a quick ratio of 2.72. The company has a market cap of $559.61 million, a price-to-earnings ratio of 10.76 and a beta of 0.94.

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). The business had revenue of $164.70 million for the quarter, compared to the consensus estimate of $175.60 million. ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The firm'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 earned $0.43 EPS.

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

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

Several hedge funds and other institutional investors have recently modified their holdings of IMOS. Bank of America Corp DE boosted its position in 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 acquiring an additional 679 shares during the period. Lindbrook Capital LLC lifted its holdings in ChipMOS TECHNOLOGIES by 34.8% in 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 during the period. Rhumbline Advisers grew its position in ChipMOS TECHNOLOGIES by 5.3% in the 4th quarter. Rhumbline Advisers now owns 33,139 shares of the semiconductor company's stock valued at $624,000 after buying an additional 1,680 shares in the last quarter. Ballentine Partners LLC increased its stake in ChipMOS TECHNOLOGIES by 11.6% during the 4th quarter. Ballentine Partners LLC now owns 17,348 shares of the semiconductor company's stock valued at $327,000 after buying an additional 1,801 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in ChipMOS TECHNOLOGIES by 761.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,083 shares of the semiconductor company's stock valued at $77,000 after buying an additional 3,609 shares during the period. Institutional investors and hedge funds own 7.39% of the company's stock.

ChipMOS TECHNOLOGIES Company Profile

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.