ChipMOS TECHNOLOGIES (NASDAQ:IMOS) Board of Directors Approves Share Buyback Plan

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) announced that its Board of Directors has initiated a stock buyback program on Tuesday, January 21st, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded ChipMOS TECHNOLOGIES from a “buy” rating to a “hold” rating in a research note on Tuesday.

ChipMOS TECHNOLOGIES Stock Down 0.3 %

IMOS stock opened at $20.72 on Friday. The stock has a fifty day moving average of $19.11 and a 200-day moving average of $21.74. ChipMOS TECHNOLOGIES has a fifty-two week low of $17.70 and a fifty-two week high of $32.19. The company has a market capitalization of $753.38 million, a price-to-earnings ratio of 14.49 and a beta of 0.86. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 3.07.

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

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.