New Risk • May 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 9.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$76.30, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 41x in the Semiconductor industry in Taiwan. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$56.10, the stock trades at a trailing P/E ratio of 55x. Average trailing P/E is 44x in the Semiconductor industry in Taiwan. Total loss to shareholders of 39% over the past three years. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: NT$0.84 (vs NT$0.35 in 1Q 2025) First quarter 2026 results: EPS: NT$0.84 (up from NT$0.35 in 1Q 2025). Revenue: NT$364.3m (up 8.6% from 1Q 2025). Net income: NT$62.3m (up 136% from 1Q 2025). Profit margin: 17% (up from 7.9% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. New Risk • Mar 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 232% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 40% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). New Risk • Mar 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.15b (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 40% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (NT$3.15b market cap, or US$98.7m). Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$42.35, the stock trades at a trailing P/E ratio of 78.6x. Average trailing P/E is 34x in the Semiconductor industry in Taiwan. Total loss to shareholders of 60% over the past three years. Anuncio • Feb 25
Ultra Chip, Inc., Annual General Meeting, May 22, 2026 Ultra Chip, Inc., Annual General Meeting, May 22, 2026. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: NT$0.54 (vs NT$1.16 in FY 2024) Full year 2025 results: EPS: NT$0.54 (down from NT$1.16 in FY 2024). Revenue: NT$1.61b (up 7.1% from FY 2024). Net income: NT$40.0m (down 54% from FY 2024). Profit margin: 2.5% (down from 5.8% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. New Risk • Dec 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. New Risk • Nov 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.06b (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$3.06b market cap, or US$98.1m). Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: NT$0.38 (vs NT$0.081 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.38 (up from NT$0.081 loss in 3Q 2024). Revenue: NT$434.7m (up 19% from 3Q 2024). Net income: NT$28.3m (up NT$34.4m from 3Q 2024). Profit margin: 6.5% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Aug 14
Upcoming dividend of NT$0.51 per share Eligible shareholders must have bought the stock before 21 August 2025. Payment date: 12 September 2025. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.1%). Reported Earnings • Aug 02
Second quarter 2025 earnings released: NT$0.68 loss per share (vs NT$0.42 profit in 2Q 2024) Second quarter 2025 results: NT$0.68 loss per share (down from NT$0.42 profit in 2Q 2024). Revenue: NT$459.1m (up 11% from 2Q 2024). Net loss: NT$50.6m (down 259% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. New Risk • Jul 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 12% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). Anuncio • Apr 18
Ultra Chip, Inc. to Report Q1, 2025 Results on Apr 25, 2025 Ultra Chip, Inc. announced that they will report Q1, 2025 results on Apr 25, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$53.30, the stock trades at a trailing P/E ratio of 45.9x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 64% over the past three years. New Risk • Mar 11
New major risk - Revenue and earnings growth Earnings have declined by 4.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Anuncio • Feb 24
Ultra Chip, Inc., Annual General Meeting, Jun 11, 2025 Ultra Chip, Inc., Annual General Meeting, Jun 11, 2025. Location: no,327, t`i ting ta tao, neihu district, taipei city Taiwan Anuncio • Feb 14
Ultra Chip, Inc. to Report Fiscal Year 2024 Results on Feb 21, 2025 Ultra Chip, Inc. announced that they will report fiscal year 2024 results on Feb 21, 2025 Reported Earnings • Nov 09
Third quarter 2024 earnings released: NT$0.08 loss per share (vs NT$1.18 profit in 3Q 2023) Third quarter 2024 results: NT$0.08 loss per share (down from NT$1.18 profit in 3Q 2023). Revenue: NT$366.3m (down 17% from 3Q 2023). Net loss: NT$6.08m (down 107% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Anuncio • Oct 29
Ultra Chip, Inc. to Report Q3, 2024 Results on Nov 05, 2024 Ultra Chip, Inc. announced that they will report Q3, 2024 results on Nov 05, 2024 Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: NT$0.43 (vs NT$0.75 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.43 (down from NT$0.75 in 2Q 2023). Revenue: NT$414.1m (down 6.5% from 2Q 2023). Net income: NT$31.8m (down 40% from 2Q 2023). Profit margin: 7.7% (down from 12% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$71.50, the stock trades at a trailing P/E ratio of 51.1x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total loss to shareholders of 49% over the past three years. Upcoming Dividend • Jul 26
Upcoming dividend of NT$0.51 per share Eligible shareholders must have bought the stock before 31 July 2024. Payment date: 23 August 2024. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.0%). Anuncio • Jul 24
Ultra Chip, Inc. to Report Q2, 2024 Results on Jul 31, 2024 Ultra Chip, Inc. announced that they will report Q2, 2024 results on Jul 31, 2024 Declared Dividend • Jul 11
Dividend reduced to NT$0.51 Dividend of NT$0.51 is 81% lower than last year. Ex-date: 31st July 2024 Payment date: 23rd August 2024 Dividend yield will be 0.5%, which is lower than the industry average of 3.0%. Payout Ratios Payout ratio: 36%. Cash payout ratio: 8%. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.50 (vs NT$0.22 in 1Q 2023) First quarter 2024 results: EPS: NT$0.50 (up from NT$0.22 in 1Q 2023). Revenue: NT$338.0m (down 42% from 1Q 2023). Net income: NT$37.2m (up 127% from 1Q 2023). Profit margin: 11% (up from 2.8% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Anuncio • Apr 28
Ultra Chip, Inc. to Report Q1, 2024 Results on May 03, 2024 Ultra Chip, Inc. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 03, 2024 Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: NT$1.13 (vs NT$7.01 in FY 2022) Full year 2023 results: EPS: NT$1.13 (down from NT$7.01 in FY 2022). Revenue: NT$1.85b (down 26% from FY 2022). Net income: NT$84.2m (down 84% from FY 2022). Profit margin: 4.5% (down from 21% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Anuncio • Feb 24
Ultra Chip, Inc., Annual General Meeting, May 16, 2024 Ultra Chip, Inc., Annual General Meeting, May 16, 2024. Location: No. 327, Sec. 1, Tiding Blvd., Neihu Dist., Taipei City Taiwan Agenda: To consider 2023 Business report; to consider Audit Committees Review Report on the 2023 Financial Statements; to consider Report on 2023 Remunerations of Directors and Employees; to consider Report on 2023 Implementation of private placement of common shares; to consider Amendments to the Procedures for Acquisition or Disposal of Assets; to consider amendments to the articles of Incorporation; and to consider other matters. Reported Earnings • Nov 07
Third quarter 2023 earnings released: EPS: NT$1.18 (vs NT$1.29 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.18 (down from NT$1.29 in 3Q 2022). Revenue: NT$441.3m (down 29% from 3Q 2022). Net income: NT$88.2m (down 7.2% from 3Q 2022). Profit margin: 20% (up from 15% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$84.10, the stock trades at a trailing P/E ratio of 55.3x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 263% over the past three years. Upcoming Dividend • Aug 01
Upcoming dividend of NT$2.67 per share at 2.6% yield Eligible shareholders must have bought the stock before 08 August 2023. Payment date: 30 August 2023. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.2%). New Risk • Jul 30
New major risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin). Reported Earnings • Jul 29
Second quarter 2023 earnings released: EPS: NT$0.75 (vs NT$3.20 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.75 (down from NT$3.20 in 2Q 2022). Revenue: NT$442.8m (down 42% from 2Q 2022). Net income: NT$53.1m (down 78% from 2Q 2022). Profit margin: 12% (down from 31% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 10
First quarter 2023 earnings released: EPS: NT$0.22 (vs NT$3.23 in 1Q 2022) First quarter 2023 results: EPS: NT$0.22 (down from NT$3.23 in 1Q 2022). Revenue: NT$584.0m (down 20% from 1Q 2022). Net income: NT$16.4m (down 93% from 1Q 2022). Profit margin: 2.8% (down from 33% in 1Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$110, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 453% over the past three years. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: NT$7.01 (vs NT$9.80 in FY 2021) Full year 2022 results: EPS: NT$7.01 (down from NT$9.80 in FY 2021). Revenue: NT$2.52b (down 6.4% from FY 2021). Net income: NT$517.3m (down 24% from FY 2021). Profit margin: 21% (down from 25% in FY 2021). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$105, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 338% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 15% share price gain to NT$88.60, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 11x in the Semiconductor industry in Taiwan. Total returns to shareholders of 230% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: NT$1.29 (vs NT$3.61 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.29 (down from NT$3.61 in 3Q 2021). Revenue: NT$619.0m (down 25% from 3Q 2021). Net income: NT$95.1m (down 64% from 3Q 2021). Profit margin: 15% (down from 32% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$73.00, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 150% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$91.40, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 11x in the Semiconductor industry in Taiwan. Total returns to shareholders of 213% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$110, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 252% over the past three years. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 15% share price gain to NT$126, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 324% over the past three years. Reported Earnings • Aug 01
Second quarter 2022 earnings released: EPS: NT$3.20 (vs NT$1.68 in 2Q 2021) Second quarter 2022 results: EPS: NT$3.20 (up from NT$1.68 in 2Q 2021). Revenue: NT$766.2m (up 34% from 2Q 2021). Net income: NT$236.1m (up 115% from 2Q 2021). Profit margin: 31% (up from 19% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 61% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$124, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 286% over the past three years. Upcoming Dividend • Jun 30
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (3.6%). Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$3.25 (up from NT$1.12 in 1Q 2021). Revenue: NT$732.7m (up 46% from 1Q 2021). Net income: NT$238.1m (up 231% from 1Q 2021). Profit margin: 33% (up from 14% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 31%. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$163, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 320% over the past three years. Reported Earnings • Feb 21
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$9.80 (up from NT$1.75 in FY 2020). Revenue: NT$2.69b (up 101% from FY 2020). Net income: NT$677.4m (up 498% from FY 2020). Profit margin: 25% (up from 8.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 31%. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 15% share price gain to NT$210, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 462% over the past three years. Reported Earnings • Oct 26
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$820.8m (up 130% from 3Q 2020). Net income: NT$264.0m (up NT$233.8m from 3Q 2020). Profit margin: 32% (up from 8.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 75% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improved over the past week After last week's 19% share price gain to NT$189, the stock trades at a trailing P/E ratio of 52.4x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 480% over the past three years. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$141, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 322% over the past three years. Upcoming Dividend • Sep 23
Upcoming dividend of NT$0.62 per share Eligible shareholders must have bought the stock before 30 September 2021. Payment date: 25 October 2021. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 16% share price gain to NT$149, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 317% over the past three years. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$137, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 312% over the past three years. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 28% share price gain to NT$185, the stock trades at a trailing P/E ratio of 45.8x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 416% over the past three years. Reported Earnings • Jul 22
Second quarter 2021 earnings released: EPS NT$1.68 (vs NT$0.26 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$570.8m (up 120% from 2Q 2020). Net income: NT$109.7m (up NT$92.7m from 2Q 2020). Profit margin: 19% (up from 6.6% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 62% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 17% share price gain to NT$117, the stock trades at a trailing P/E ratio of 44.6x. Average trailing P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 288% over the past three years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 21% share price gain to NT$68.20, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 121% over the past three years. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$58.00, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 120% over the past three years. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS NT$1.12 (vs NT$0.25 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$501.6m (up 79% from 1Q 2020). Net income: NT$71.9m (up 341% from 1Q 2020). Profit margin: 14% (up from 5.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$68.00, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 28x in the Semiconductor industry in Taiwan. Total returns to shareholders of 140% over the past three years. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS NT$1.75 (vs NT$1.20 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.34b (up 12% from FY 2019). Net income: NT$113.3m (up 45% from FY 2019). Profit margin: 8.5% (up from 6.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improved over the past week After last week's 17% share price gain to NT$57.50, the stock is trading at a trailing P/E ratio of 33x, up from the previous P/E ratio of 28.2x. This compares to an average P/E of 27x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 81%. Anuncio • Mar 04
UltraChip Inc., Annual General Meeting, Jun 11, 2021 UltraChip Inc., Annual General Meeting, Jun 11, 2021. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS NT$1.74 (vs NT$1.20 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.34b (up 12% from FY 2019). Net income: NT$113.3m (up 45% from FY 2019). Profit margin: 8.5% (up from 6.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improved over the past week After last week's 18% share price gain to NT$48.00, the stock is trading at a trailing P/E ratio of 41.9x, up from the previous P/E ratio of 35.4x. This compares to an average P/E of 28x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 44%. Is New 90 Day High Low • Feb 19
New 90-day high: NT$48.00 The company is up 37% from its price of NT$35.10 on 20 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 35% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: NT$40.10 The company is up 39% from its price of NT$28.90 on 10 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 25% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.46 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$357.0m (up 22% from 3Q 2019). Net income: NT$30.2m (up 32% from 3Q 2019). Profit margin: 8.5% (up from 7.8% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 15% share price gain to NT$33.90, the stock is trading at a trailing P/E ratio of 32.7x, up from the previous P/E ratio of 28.4x. This compares to an average P/E of 22x in the Semiconductor industry in Taiwan. Total return to shareholders over the past three years is a loss of 4.1%. Is New 90 Day High Low • Nov 10
New 90-day high: NT$32.70 The company is up 33% from its price of NT$24.58 on 12 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 6.0% over the same period. 