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

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $18.24, but opened at $19.00. ChipMOS TECHNOLOGIES shares last traded at $18.57, with a volume of 6,141 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered ChipMOS TECHNOLOGIES from a "buy" rating to a "hold" rating in a report on Tuesday.

ChipMOS TECHNOLOGIES Trading Up 2.6 %

The stock has a market cap of $680.66 million, a price-to-earnings ratio of 13.09 and a beta of 0.86. 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 company has a fifty day simple moving average of $19.05 and a 200-day simple moving average of $21.75.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.26 earnings per share for the quarter. The company had revenue of $191.70 million for the quarter. ChipMOS TECHNOLOGIES had a return on equity of 6.66% and a net margin of 7.25%.

ChipMOS TECHNOLOGIES declared that its Board of Directors has authorized a share repurchase plan on Tuesday, January 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On ChipMOS TECHNOLOGIES

Several large investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its stake in ChipMOS TECHNOLOGIES by 4.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 55,046 shares of the semiconductor company's stock worth $1,431,000 after acquiring an additional 2,319 shares in the last quarter. Ballentine Partners LLC lifted its holdings 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 valued at $327,000 after purchasing an additional 1,801 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of ChipMOS TECHNOLOGIES by 18.0% during the 3rd quarter. Blue Trust Inc. now owns 9,429 shares of the semiconductor company's stock valued at $221,000 after purchasing an additional 1,440 shares in the last quarter. 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.