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

ChipMOS TECHNOLOGIES INC. (NASDAQ:IMOS) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 17,600 shares, a decrease of 37.4% from the February 28th total of 28,100 shares. Based on an average daily trading volume, of 24,200 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On ChipMOS TECHNOLOGIES

Several institutional investors have recently added to or reduced their stakes in IMOS. Lindbrook Capital LLC lifted its stake in ChipMOS TECHNOLOGIES by 34.8% in the fourth quarter. Lindbrook Capital LLC now owns 3,201 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 826 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of ChipMOS TECHNOLOGIES by 761.4% in the fourth 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. Tower Research Capital LLC TRC lifted its position in shares of ChipMOS TECHNOLOGIES by 1,000.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 5,000 shares during the last quarter. Bank of America Corp DE grew its stake in shares of 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. Finally, XY Capital Ltd purchased a new stake in ChipMOS TECHNOLOGIES in the 4th quarter worth about $189,000. Institutional investors own 7.39% of the company’s stock.

ChipMOS TECHNOLOGIES Stock Down 2.4 %

IMOS stock traded down $0.44 during trading on Friday, reaching $17.64. The stock had a trading volume of 24,616 shares, compared to its average volume of 19,690. ChipMOS TECHNOLOGIES has a one year low of $17.41 and a one year high of $31.46. The company’s 50 day moving average is $19.23 and its two-hundred day moving average is $20.20. The company has a quick ratio of 2.72, a current ratio of 3.07 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $641.43 million, a price-to-earnings ratio of 12.34 and a beta of 0.90.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last issued its quarterly 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 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% compared to the same quarter last year.

ChipMOS TECHNOLOGIES declared that its Board of Directors has authorized a share buyback program on Tuesday, January 21st that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.