ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) Sees Large Drop in Short Interest

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS - Get Free Report) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 28,100 shares, a decline of 22.4% from the February 13th total of 36,200 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily volume of 25,400 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

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

ChipMOS TECHNOLOGIES Stock Down 1.6 %

IMOS stock traded down $0.29 during midday trading on Friday, hitting $18.39. The company's stock had a trading volume of 487 shares, compared to its average volume of 19,577. The company has a market cap of $668.70 million, a PE ratio of 12.86 and a beta of 0.90. ChipMOS TECHNOLOGIES has a 12 month low of $17.41 and a 12 month high of $32.19. 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's 50-day moving average is $19.23 and its 200-day moving average is $20.40.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.21). The business had revenue of $164.70 million during 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 business's revenue was down 5.7% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share.

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ChipMOS TECHNOLOGIES announced that its board has approved a share repurchase plan on Tuesday, January 21st that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ballentine Partners LLC lifted its stake in shares of ChipMOS TECHNOLOGIES by 11.6% in 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 period. XY Capital Ltd bought a new position in shares of ChipMOS TECHNOLOGIES in the 4th quarter worth approximately $189,000. ABC Arbitrage SA bought a new position in shares of ChipMOS TECHNOLOGIES in the 4th quarter worth approximately $393,000. Rhumbline Advisers lifted its stake 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 purchasing an additional 1,680 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of ChipMOS TECHNOLOGIES by 34.8% in 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 hedge funds and other institutional investors.

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.