ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Shares Gap Up - Here's What Happened

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $13.71, but opened at $15.19. ChipMOS TECHNOLOGIES shares last traded at $14.63, with a volume of 3,146 shares changing hands.

Analyst Ratings Changes

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

ChipMOS TECHNOLOGIES Trading Down 4.4 %

The company has a current ratio of 3.07, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $558.88 million, a PE ratio of 10.75 and a beta of 0.94. The business has a 50 day moving average price of $17.99 and a 200-day moving average price of $19.49.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last released 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). ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The business had revenue of $164.70 million during the quarter, compared to analyst estimates of $175.60 million. During the same period last year, the business posted $0.43 EPS. ChipMOS TECHNOLOGIES's revenue was down 5.7% compared to the same quarter last year.

ChipMOS TECHNOLOGIES announced that its board has authorized a share repurchase program on Tuesday, January 21st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its stake 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 acquiring an additional 1,680 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in shares of ChipMOS TECHNOLOGIES in the fourth quarter valued at approximately $505,000. ABC Arbitrage SA purchased a new position in shares of ChipMOS TECHNOLOGIES during the 4th quarter worth approximately $393,000. Ballentine Partners LLC raised its position in shares of ChipMOS TECHNOLOGIES by 11.6% during the 4th quarter. Ballentine Partners LLC now owns 17,348 shares of the semiconductor company's stock worth $327,000 after purchasing an additional 1,801 shares during the last quarter. Finally, XY Capital Ltd acquired a new position in shares of ChipMOS TECHNOLOGIES during the 4th quarter worth approximately $189,000. Hedge funds and other 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.