Share Buyback Program Announced by ChipMOS TECHNOLOGIES (NASDAQ:IMOS)

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) declared that its board has approved a share buyback plan on Tuesday, January 21st, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

ChipMOS TECHNOLOGIES Price Performance

NASDAQ:IMOS opened at $18.72 on Wednesday. The firm has a market cap of $680.66 million, a PE ratio of 13.09 and a beta of 0.86. ChipMOS TECHNOLOGIES has a 12 month low of $17.70 and a 12 month high of $32.19. 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’s 50-day moving average price is $19.05 and its two-hundred day moving average price is $21.75.

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) last released its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.26 EPS for the quarter. ChipMOS TECHNOLOGIES had a net margin of 7.25% and a return on equity of 6.66%. The firm had revenue of $191.70 million for the quarter.

Analysts Set New Price Targets

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

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.