ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Stock Price Down 3.5% - Here's Why

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report)'s share price dropped 3.5% during trading on Wednesday . The stock traded as low as $18.36 and last traded at $17.98. Approximately 21,093 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 19,620 shares. The stock had previously closed at $18.63.

Analyst Upgrades and Downgrades

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

ChipMOS TECHNOLOGIES Stock Performance

The firm has a market capitalization of $672.33 million, a PE ratio of 12.93 and a beta of 0.90. 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 business's fifty day simple moving average is $19.24 and its 200-day simple moving average is $20.34.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last posted 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 company had revenue of $164.70 million for the quarter, compared to analysts' expectations of $175.60 million. During the same period in the previous year, the business posted $0.43 earnings per share. The business's revenue was down 5.7% on a year-over-year basis.

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ChipMOS TECHNOLOGIES announced that its board has approved 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Institutional Trading of ChipMOS TECHNOLOGIES

Large investors have recently added to or reduced their stakes in the company. Ballentine Partners LLC grew its holdings in shares of ChipMOS TECHNOLOGIES by 11.6% in the fourth 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. XY Capital Ltd purchased a new position in shares of ChipMOS TECHNOLOGIES in the 4th quarter worth $189,000. ABC Arbitrage SA bought a new stake in shares of ChipMOS TECHNOLOGIES in the 4th quarter worth about $393,000. Rhumbline Advisers increased its holdings in shares of ChipMOS TECHNOLOGIES by 5.3% in the 4th quarter. Rhumbline Advisers now owns 33,139 shares of the semiconductor company's stock worth $624,000 after buying an additional 1,680 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of ChipMOS TECHNOLOGIES by 34.8% during the 4th quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company's stock valued at $60,000 after buying an additional 826 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.