NasdaqGS:IMOS

Stock Analysis Report

Executive Summary

ChipMOS TECHNOLOGIES INC. researches, develops, manufactures, and sells high integration and high precision integrated circuits, and related assembly and testing services.

Snowflake

Fundamentals

Adequate balance sheet with proven track record.

Risks

  • ChipMOS TECHNOLOGIES has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has ChipMOS TECHNOLOGIES's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.5%

NasdaqGS:IMOS

2.0%

US Semiconductor

1.2%

US Market


1 Year Return

64.6%

NasdaqGS:IMOS

10.9%

US Semiconductor

1.7%

US Market

IMOS outperformed the Semiconductor industry which returned 10.9% over the past year.

IMOS outperformed the Market in United States of America which returned 1.7% over the past year.


Share holder returns

IMOSIndustryMarket
7 Day3.5%2.0%1.2%
30 Day15.3%10.8%4.9%
90 Day47.6%17.2%3.7%
1 Year71.6%64.6%13.0%10.9%3.9%1.7%
3 Yearn/a83.8%73.0%47.2%37.7%
5 Yearn/a122.5%100.0%60.0%42.4%

Price Volatility Vs. Market

How volatile is ChipMOS TECHNOLOGIES's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ChipMOS TECHNOLOGIES undervalued based on future cash flows and its price relative to the stock market?

10.34x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

ChipMOS TECHNOLOGIES's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

ChipMOS TECHNOLOGIES's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

ChipMOS TECHNOLOGIES is good value based on earnings compared to the US Semiconductor industry average.

ChipMOS TECHNOLOGIES is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

ChipMOS TECHNOLOGIES earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

ChipMOS TECHNOLOGIES is good value based on assets compared to the US Semiconductor industry average.


Next Steps

Future Growth

How is ChipMOS TECHNOLOGIES expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

-11.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

ChipMOS TECHNOLOGIES's revenue is expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).

ChipMOS TECHNOLOGIES's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

ChipMOS TECHNOLOGIES's revenue growth is positive but not above the United States of America market average.

ChipMOS TECHNOLOGIES's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.

ChipMOS TECHNOLOGIES's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

ChipMOS TECHNOLOGIES is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has ChipMOS TECHNOLOGIES performed over the past 5 years?

-21.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

ChipMOS TECHNOLOGIES's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.

ChipMOS TECHNOLOGIES's 1-year earnings growth exceeds its 5-year average (763.2% vs -21.9%)

ChipMOS TECHNOLOGIES's earnings growth has exceeded the US Semiconductor industry average in the past year (763.2% vs -6.2%).


Return on Equity

ChipMOS TECHNOLOGIES has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

ChipMOS TECHNOLOGIES used its assets more efficiently than the US Semiconductor industry average last year based on Return on Assets.


Return on Capital Employed

ChipMOS TECHNOLOGIES has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is ChipMOS TECHNOLOGIES's financial position?


Financial Position Analysis

ChipMOS TECHNOLOGIES is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

ChipMOS TECHNOLOGIES's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

ChipMOS TECHNOLOGIES's level of debt (50.4%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (33.4% vs 50.4% today).

Debt is well covered by operating cash flow (54%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 22.1x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.3x debt.


Next Steps

Dividend

What is ChipMOS TECHNOLOGIES's current dividend yield, its reliability and sustainability?

5.04%

Expected Dividend Yield


Dividend Yield and Payments Analysis

ChipMOS TECHNOLOGIES's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).

ChipMOS TECHNOLOGIES's dividend is below the markets top 25% of dividend payers in United States of America (3.67%).

ChipMOS TECHNOLOGIES has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

ChipMOS TECHNOLOGIES has only been paying a dividend for 5 years, and since then dividends per share have fallen.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.7x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.8x coverage).


Next Steps

Management

What is the CEO of ChipMOS TECHNOLOGIES's salary, the management and board of directors tenure and is there insider trading?

5.8yrs

Average management tenure


CEO

Shih-Jye Cheng (61yo)

0yrs

Tenure

0

Mr. Shih-Jye Cheng has been the President at Chipmos Technologies Inc. since July 17, 1998. Mr. Cheng served as the Chief Executive Officer of ChipMOS Technologies (Bermuda) Ltd. since August 2000 and serv ...


Management Age and Tenure

5.8yrs

Average Tenure

53yo

Average Age

The average tenure for the ChipMOS TECHNOLOGIES management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

6.3yrs

Average Tenure

60yo

Average Age

The tenure for the ChipMOS TECHNOLOGIES board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Shih-Jye Cheng (61yo)

    Chairman

    • Tenure: 0yrs
  • Lafair Cho (57yo)

    Senior EVP of Manufacturing Operations

    • Tenure: 0.3yrs
  • Jesse Huang (53yo)

    Vice President of Strategy & Investor Relations

    • Tenure: 12.4yrs
  • Yu-Ying Chen

    Vice President of Human Resource Centre

    • Tenure: 7.3yrs
  • Leo Lin (50yo)

    VP and Head of Business Management Center

    • Tenure: 0yrs
  • Silvia Su (48yo)

    Vice President of Finance & Accounting Management Center

    • Tenure: 1.2yrs

Board Members

  • Shih-Jye Cheng (61yo)

    Chairman

    • Tenure: 0yrs
  • Lafair Cho (57yo)

    Senior EVP of Manufacturing Operations

    • Tenure: 0.3yrs
  • Chin-Shyh Ou (62yo)

    Independent Director

    • Tenure: 12.3yrs
  • Cho-Lien Chang (57yo)

    Independent Director

    • Tenure: 4.3yrs
  • Tai-Haur Kuo (58yo)

    Independent Director

    • Tenure: 6.3yrs
  • Yu-Hu Liu (60yo)

    Director

    • Tenure: 6.3yrs
  • Yuh-Fong Tang (64yo)

    Independent Director

    • Tenure: 6.3yrs
  • Wen-Ching Lin (62yo)

    Director

    • Tenure: 3.3yrs
  • Kuei-Ann Wen (58yo)

    Independent Director

    • Tenure: 4.3yrs

Company Information

ChipMOS TECHNOLOGIES INC.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ChipMOS TECHNOLOGIES INC.
  • Ticker: IMOS
  • Exchange: NasdaqGS
  • Founded: 1997
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: NT$24.729b
  • Listing Market Cap: NT$799.865m
  • Shares outstanding: 727.31m
  • Website: https://www.chipmos.com

Location

  • ChipMOS TECHNOLOGIES INC.
  • No. 1, R&D Road 1
  • Hsinchu Science Park
  • Hsinchu
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
8150TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDApr 2013
CPIADB (Deutsche Boerse AG)SPON ADS EACH REP 20 ORD SHSDEEURNov 2016
IMOSNasdaqGS (Nasdaq Global Select)SPON ADS EACH REP 20 ORD SHSUSUSDNov 2016
CPIABST (Boerse-Stuttgart)SPON ADS EACH REP 20 ORD SHSDEEURNov 2016

Biography

ChipMOS TECHNOLOGIES INC. researches, develops, manufactures, and sells high integration and high precision integrated circuits, and related assembly and testing services. The company operates through Test ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/15 01:11
End of Day Share Price2019/09/13 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.