Chunghwa Telecom (NYSE:CHT) Sees Strong Trading Volume – Time to Buy?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares saw unusually-strong trading volume on Thursday . Approximately 134,331 shares traded hands during trading, an increase of 46% from the previous session’s volume of 91,859 shares.The stock last traded at $38.91 and had previously closed at $38.82.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Chunghwa Telecom from a “hold” rating to a “buy” rating in a research report on Monday, March 17th.

Chunghwa Telecom Stock Performance

The company has a market cap of $30.41 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 21.42 and a beta of 0.19. The stock’s fifty day simple moving average is $38.66 and its two-hundred day simple moving average is $38.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.29 and a current ratio of 1.47.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly earnings results on Thursday, January 23rd. The utilities provider reported $0.36 earnings per share for the quarter. Chunghwa Telecom had a net margin of 16.18% and a return on equity of 9.53%. Equities research analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current year.

Hedge Funds Weigh In On Chunghwa Telecom

Hedge funds have recently made changes to their positions in the stock. Sierra Ocean LLC acquired a new position in shares of Chunghwa Telecom in the 4th quarter valued at $54,000. BNP Paribas Financial Markets lifted its holdings in shares of Chunghwa Telecom by 617.4% during the 4th quarter. BNP Paribas Financial Markets now owns 1,693 shares of the utilities provider’s stock valued at $64,000 after acquiring an additional 1,457 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Chunghwa Telecom by 71.4% during the 4th quarter. GAMMA Investing LLC now owns 3,085 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 1,285 shares in the last quarter. GeoWealth Management LLC acquired a new position in shares of Chunghwa Telecom during the 4th quarter valued at $117,000. Finally, R Squared Ltd acquired a new position in shares of Chunghwa Telecom during the 4th quarter valued at $127,000. Institutional investors and hedge funds own 2.11% of the company’s stock.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd., together with its subsidiaries, provides telecommunication services in Taiwan and internationally. It operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local, domestic long distance, and international long distance fixed-line telephone services; mobile services such as prepaid and postpaid plans; broadband plans; and internet and data services.