IMOS has just been granted an important new patent entitled "Substrate-On-Chip (SOC) Packaging Process" (Invention No. 207525) by the Intellectual Property Office of the Ministry of Economic Affairs of Taiwan. The Company has also been granted related patents in Taiwan (Utility Model No.193887), the United States (US 6,689,638) and China (ZL 01142244.0) for its SOC packaging technology in the past few years. (you can read the details here: http://biz.yahoo.com/prnews/050713/hkw003.html?.v=11 )
IMOS is a leading independent provider of semiconductor testing and assembly services primarily to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and in Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.
The new patent will not only help them staying competitive but they are also looking for other companies to license the SOC technology. This could be a nice little money spinner for them.
Even though this patent is important I don't expect the stock to be on fire today. So why am I wasting your time?
Well IMOS (or Chipmos) is one of those small fundamentally beautiful Gems. They have been through a hard time with over capacity and lower prices but that is hopefully history now. Today there is a shortage of capacity and they have just increased prices for their services.
They are in the process of merge with Chantek a merger that is intended to increase the size of the combined company, lower its costs and increase its competitiveness in the market.
The positive development has not gone unnoticed by the Analysts following the stock (which unfortunately is very few!): Analyst Stuart Muter of RBC Capital Markets reiterates his "outperform" rating on ChipMos Technologies (CHY.FSE), while raising his estimates for the company. The target price has been raised from $9 to $11.
In a recent research note, the analyst mentions that channel checks indicate that the company's performance in June was robust, following a strong performance over the previous couple of months. The analysts expect the company to be able to achieve gross margins of 25.5% in Q2, as compared to the previously estimated 24.0%. The EPS estimates for Q2, 2005 and 2006 have been raised from $0.12 to $0.15, from $0.55 to $0.69 and from $0.72 to $0.88, respectively.
The patent awarded today could accelerate the positive trends for both the company and the share price.
I have bought IMOs @ 6.59 $ :)
http://www.3stocksonfire.org/trading/index.php?topic=368.0
Q2 & Q3 will be much better as expected by the MARKET
mic are you long this stock? Whats the best entry in your opinion?
Hi Stocky,
Yes I am long the stock since start of June.
I am not particularly good to select entry points (actually i would ask a guy like yourself that question :D). I expect the stock to go higher so now would be a good time to buy.
Thanks mic, I would like to buy it near 7, hope it pulls back to this level. :)
Stocky, as I said you are probably better at entry points than me. (at least in this case :o)
Just think about AOBO. I could kill myself that I didn't buy below 1.7 when I had a chance!!!
Congratulation if you bought.
updated chart:
Quote from: la-onda on July 13, 2005, 09:11:31 AM
I have bought IMOs @ 6.59 $ :)
http://www.3stocksonfire.org/trading/index.php?topic=368.0
Q2 & Q3 will be much better as expected by the MARKET
I don't know how I missed seeing this folder yesterday ??? I saw your question to David in another folder, so I downloaded the stock, saw that it already had broken out, bought it, then ran the search function and posted the chart breakout in your June 2 folder. (I don't see an "out of breath" face on the toolbar...pant...pant...pant).
At any rate, thanks for your work on this stock, which I applauded in the other folder :D
Applause to Michael, too, for his nice research. Hope we make some $$$ on this one.
will see if the stock is gonna rebound to test the break out.. will jump in if it does and the support will hold..
(hope it doesn't stop on the closure of the gap of nov. 2004)
Quote from: nikao on July 15, 2005, 05:00:41 AM
(hope it doesn't stop on the closure of the gap of nov. 2004)
IMOS got to $7.71 yesterday, right in the middle of that $7.63 - $7.81 gap. Although we've got resistance from $7.63 to the October 7, 2004 high of $9.80, there was only one month of trading in that range ($7.63-$9.80).
We might have to "chip" ;) away at that resistance for a bit, but we're attacking one month's worth of resistance from a breakout of a nice eight-month pattern. Everyone who bought and is holding IMOS since the October 27, 2004 gap down has a winner, so they should be "strong hands" when we run into selling.
anybody used fridays price action for adding more IMOS shares?
updated chart, still long & strong:
I stepped in on friday at 7,42
(http://www.wistudat.net/stock/imos.png)
the resistance of the pricechannel now forms support according to my TA chart ;)
yesterdays low was a perfect test of 2 resistances; horizontal and another price channel.
over all looking very good i think
it tested the support of the price channel today.
What im curious about though is the former price channel.
It seems like the stock is using the support of the newer (with a steeper angle) price channel, but the resistance of the old one; if this is true we are seeing a triangle?
(http://www.wistudat.net/stock/imos2.png)
Nikao,
It looks to me like yesterday's low was at the top of the Ascending Triangle. Former resistance provided support.
Enough with re-testing that breakout! Let's get moving to the upside. ;)
exactly my thoughts :D
yesterday's candle fits exactly in the chart i draw a few days ago (the one with 2 price channels where we see a trianglish thing) .. so im very curious about todays action.
Quote from: nikao on July 20, 2005, 06:02:09 AM
exactly my thoughts :D
yesterday's candle fits exactly in the chart i draw a few days ago (the one with 2 price channels where we see a trianglish thing) .. so im very curious about todays action.
That was an interesting chart you did, Nikao. Applause.
in line with guidance:
ChipMOS REPORTS JUNE 2005 REVENUE
Wednesday July 20, 8:00 am ET
HSINCHU, Taiwan, July 20 /Xinhua-PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or "the Company") (Nasdaq: IMOS - News) today reported its unaudited consolidated revenue for the month of June 2005.
Revenue for the month of June 2005 was NT$1,278.5 million or US$40.4 million, a decrease of less than 1% from NT$1,283.6 million or US$40.6 million for the month of May 2005 and a decrease of 11% from NT$1,439.6 million or US$45.5 million for the same period in 2004. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$31.62 against US$1.00 as of June 30, 2005.)
ChipMOS' June 2005 consolidated revenue included revenues of ChipMOS TECHNOLOGIES INC., ChipMOS Japan Inc., ChipMOS U.S.A., Inc., ChipMOS TECHNOLOGIES (H.K.) Limited (formerly ChipMOS Far East Limited), ChipMOS Logic TECHNOLOGIES INC., CHANTEK ELECTRONIC CO., LTD., Modern Mind Technology Limited and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD., and ThaiLin Semiconductor Corp.
Well it is not my day today. First GIGM and now IMOS.
I had expected an earnings surprise based on previously announced utilisation of the capacity and price increases.
I am selling IMOS as well at 7.37.
Hmmm... maybe I am just in a bad mood >:D
imos is still in the bull price channel.. ill hold it as long as the support of this pricechannel isnt violated
Quote from: Michael on July 20, 2005, 12:50:39 PM
Well it is not my day today. First GIGM and now IMOS.
I had expected an earnings surprise based on previously announced utilisation of the capacity and price increases.
I am selling IMOS as well at 7.37.
Hmmm... maybe I am just in a bad mood >:D
LOL. I had the same kind of day. >:D
I can relate, especially when I felt yesterday morning that I was on the wrong horse in this sector. ASTSF went up another $0.50 yesterday, while IMOS hung around the top of the Ascending Triangle. Literally. The candlestick looks like a doji star hangman ;) The close was just about dead on the top of the triangle, so at least it came back from the initial selloff on earnings.
The possible good news is that the past five days of trading in IMOS is a perfect bull flag. The slopes of both down trendlines are identical: -0.333. It needs to print 7.55 today (July 21) to take out the top of the pattern to confirm it.
I'm moving my stop up to a close below yesterday's low of 7.12. I bought it at 7.48 because it had an upside breakout. I'm not interested in holding it if it goes back inside the pattern.
good news ;D
ChipMOS AND Novatek EXTEND LONG-TERM AGREEMENT
Thursday July 21, 8:00 am ET
HSINCHU, Taiwan, July 21 /Xinhua-PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. (''ChipMOS'' or ''the Company'') (Nasdaq: IMOS - News) announced today that its 70% owned subsidiary, ChipMOS TECHNOLOGIES INC. (''ChipMOS Taiwan''), has extended its long-term agreement with Novatek Microelectronics Corp., Ltd. (''Novatek'') through 2008. The two companies have worked together since 2003.
Under the new contract, Novatek has revised its future requirements of Tape-Carrier-Package/Chip-On-Film (''TCP/COF'') with significant increasing numbers of demand to ChipMOS and will shift additional percentage increases of Chip-On-Glass (''COG'') business to ChipMOS. ChipMOS Taiwan commits to reserving the required capacity for LCD Driver IC assembly and testing services for Novatek until the end of 2008.
S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, ''Novatek is a global leader in the LCD driver IC market and an important strategic customer to ChipMOS. We are pleased to extend our long-term, mutually beneficial relationship. We remain committed to providing the vertically integrated testing and assembly services that have made our relationship a success.''
Quote from: Melf Elf on July 21, 2005, 03:31:12 AM
[I'm moving my stop up to a close below yesterday's low of 7.12. I bought it at 7.48 because it had an upside breakout. I'm not interested in holding it if it goes back inside the pattern.
Well-ll...they're going to call my game. IMOS is BID...7.11...ASK...7.12 with 10 minutes to the close. I'm going to hold it, and think about it overnight. Earnings already are out, so I'm not worried about that. We're at the bottom of the bull flag I mentioned this morning. I don't want to give this much room, but I also don't want to get shaken out. I'll hold it :(. Begrudgingly.
im also holding it.. (im in at 7,42)
as long as the support line of the ascending price channel holds I'll hold this one
Quote from: nikao on July 22, 2005, 02:25:36 AM
im also holding it.. (im in at 7,42)
as long as the support line of the ascending price channel holds I'll hold this one
I agree, Nikao. That makes sense. If it closes below this full flag AND the up trendline, I'm out.
I was getting impatient with false breakouts, like ECIL, DHB (still holding that one) and GIGM. I felt better yesterday after DECK exploded to my target. I don't like breakouts that close back inside the pattern. I'd feel better if I were on ASTSF, which pulled back yesterday but is still above its breakout, instead of IMOS, which closed back below its breakout. We'll see how it plays out.
agree.. but in the 3 months that im trading the most important thing i learnes is probably not to be impatience.. Nothing worse then getting out with a loss because of impatience and then to see the stock getting up after all >:(
But the bad thing is that I have a break out falling back into the pricechannel also on ADST (bought them on the same day!) But I just adjusted the plan since the trend is still bullish on IMOS (and we all know that the trend is our friend ;) )
We just have to hold the stock a little longer then planned..
Quote from: nikao on July 22, 2005, 04:13:55 AM
agree.. but in the 3 months that im trading the most important thing i learnes is probably not to be impatience.. Nothing worse then getting out with a loss because of impatience and then to see the stock getting up after all >:(
Very true. You sure have learned alot in only 3 months. Applause!
I'm impatient by nature, which works for and against me in my trading. "Be impatient with your losers, but be patient with your winners." I have no problem letting go of a loser, but I let go of winners too soon, often to offset a loss.
Recent example: DNDN. I had a 13% gain in it, and it looked toppy, short-term. I sold it to offset a 4% loss in another stock, figuring that (1) DNDN easily could pullback to its breakout, and my 13% gain would evaportate, and (2) if I sold it and locked in the 13%, there always was the chance that I could re-enter on any selloff. So, I sold it at 6.01.
DNDN now is at 7.02. LOL. With the benefit of hindsight, of course I'd like to be holding it, but selling it was a business decision to lock in an overall gain of 9% on the two trades, so from that standpoint, I can't say that I regret it because I can cite you cases where my 13% gain DID evaporate. :'(
I guess that's something that we all have to deal with as traders: when to be impatient, and when to be patient. Sometimes it's more obvious than at other times.
I hope that ADST works out for you, Nikao, and best of luck with all of your trades!
Quote from: Melf Elf on July 22, 2005, 05:05:52 AM
Quote from: nikao on July 22, 2005, 04:13:55 AM
agree.. but in the 3 months that im trading the most important thing i learnes is probably not to be impatience.. Nothing worse then getting out with a loss because of impatience and then to see the stock getting up after all >:(
Very true. You sure have learned alot in only 3 months. Applause!
I'm impatient by nature, which works for and against me in my trading. "Be impatient with your losers, but be patient with your winners." I have no problem letting go of a loser, but I let go of winners too soon, often to offset a loss.
Recent example: DNDN. I had a 13% gain in it, and it looked toppy, short-term. I sold it to offset a 4% loss in another stock, figuring that (1) DNDN easily could pullback to its breakout, and my 13% gain would evaportate, and (2) if I sold it and locked in the 13%, there always was the chance that I could re-enter on any selloff. So, I sold it at 6.01.
DNDN now is at 7.02. LOL. With the benefit of hindsight, of course I'd like to be holding it, but selling it was a business decision to lock in an overall gain of 9% on the two trades, so from that standpoint, I can't say that I regret it because I can cite you cases where my 13% gain DID evaporate. :'(
I guess that's something that we all have to deal with as traders: when to be impatient, and when to be patient. Sometimes it's more obvious than at other times.
I hope that ADST works out for you, Nikao, and best of luck with all of your trades!
very true!
With ADST I should have been impatience.. but i got in at 1,31 and was doubting to sell at 1,44 but figured it could get much higher (i bought it when it came down from a gap up at 1,65)
now its at 1.21 :(
well.. i just hope both ADST and IMOS will work out for me.. If they don't I have a line up of losses that makes me a bit unsecure....
updated IMOS chart :
I´m still holding IMOS
the low of yesterday was exactly on the ascending trendline, as was the low of last friday.. It was also the middle of the boilinger band.. so relatively strong support there, hope it can bounce of! ;)
Quote from: nikao on July 26, 2005, 02:18:34 AM
the low of yesterday was exactly on the ascending trendline, as was the low of last friday.. It was also the middle of the boilinger band.. so relatively strong support there, hope it can bounce of! ;)
This one is starting to make me feel impatience, Nikao >:(
On the log chart, I show your up trendline coming in today, July 26, at about 6.97. The bottom rail of the bull flag on the log chart comes in today at about 6.97 also.
On the linear chart, the up trendline comes in today at about 6.93. For Wednesday, July 27, both the up trendline and lower rail of the bull flag come in at 6.95, which was last Friday's low.
If we close today below Friday's 6.95 low by only a few pennies (say, no lower than 6.92), I'll hold and give the up trendline basis the linear chart the benefit of the doubt.
But, if we close on Wednesday, July 27 below 6.95, I'll sell. That would break the up trendline AND break the bottom of the bull flag on both the log chart and the linear chart.
You see why I'm feeling impatient? ;)
Quote from: Melf Elf on July 26, 2005, 04:19:45 AM
Quote from: nikao on July 26, 2005, 02:18:34 AM
the low of yesterday was exactly on the ascending trendline, as was the low of last friday.. It was also the middle of the boilinger band.. so relatively strong support there, hope it can bounce of! ;)
This one is starting to make me feel impatience, Nikao >:(
On the log chart, I show your up trendline coming in today, July 26, at about 6.97. The bottom rail of the bull flag on the log chart comes in today at about 6.97 also.
On the linear chart, the up trendline comes in today at about 6.93. For Wednesday, July 27, both the up trendline and lower rail of the bull flag come in at 6.95, which was last Friday's low.
If we close today below Friday's 6.95 low by only a few pennies (say, no lower than 6.92), I'll hold and give the up trendline basis the linear chart the benefit of the doubt.
But, if we close on Wednesday, July 27 below 6.95, I'll sell. That would break the up trendline AND break the bottom of the bull flag on both the log chart and the linear chart.
You see why I'm feeling impatient? ;)
exactly my thoughts ;)
no matter what, the ascending trendline has to hold as support..
yesterday it bounced of 7,00
What I didn't like was the fact that everytime IMOS made an attempt to move higher (7,10 +) the supply of sellers increased .. (i was watching the INET orderbook)
So im afraid it isn't that easy for IMOS to get to higher grounds..
But.... it printed something white.. so I'll hold ;)
Quote from: Melf Elf on July 26, 2005, 04:19:45 AM
This one is starting to make me feel impatience, Nikao >:(
But, if we close on Wednesday, July 27 below 6.95, I'll sell. That would break the up trendline AND break the bottom of the bull flag on both the log chart and the linear chart.
You see why I'm feeling impatient? ;)
Nikao,
This one is starting to make me feel irritated >:(
It broke below both the flag and the trendline, printing 6.91, and now is 6.95 BID...6.96 ASK. It's doing that because it knows that we own it. I'm selling a close below 6.95, or obvious late day tank.
You see why I'm feeling irritated? >:D
Im getting impatient also..
It violated my ascending trendline yesterday.. but it managed to close just above the line with a nice hammer
My emotional side wants to sell and throw this one in the garbage can, but my rational side tells me it closed above the trendline and it printed a hammer, so I'll hold for now..
Quote from: nikao on July 28, 2005, 01:54:45 AM
My emotional side wants to sell and throw this one in the garbage can, but my rational side tells me it closed above the trendline and it printed a hammer, so I'll hold for now..
My sentimensts exactly. The bullish hammer off the up trendline and the bull flag looks real decent, now it's time to get going to the UPSIDE. ;)
IMOS is putting me in a hard position again; yesterday's close was below my ascending trendline, but within the bullflag. Since IMOS printed a Doji yesterday I'm not sure what to do. I guess I'll watch the opening + 1 hour to determine the sentiment and then decide If im selling with a loss or not.
Its RSI is also slightly moving in oversold area (about to cross the 50)
Quote from: nikao on July 29, 2005, 01:56:09 AM
IMOS is putting me in a hard position again; yesterday's close was below my ascending trendline, but within the bullflag. Since IMOS printed a Doji yesterday I'm not sure what to do.
This is a case of, "Do I use a log chart, or a linear chart?" On the linear chart (below) your ascending trendline held. Given Wednesday's bullish hammer, yesterday's bullish doji star and the fact that the chart still is constructively bullish, I'll go with the linear chart here, and give it the benefit of the doubt.
I'm now
beyond irritated with this stock, Nikao. ;D
hmm interesting to see the linear chart!
If I watch your chart i think it is time for IMOS to go to the resistance of the bullflag, instead of testing the support all the time :P
still holding on :)
hmm.. IMOS printed a nasty black candle. It closed below my ascending trendline (even on linear chart;) ) but within the bullflag.
Since the support of the bullflag is descending quite fast I won't hold it forever if it closes above this support. (don't shit like an elephant!)
I'll probably sell today with some loss :(
hmm after hours 6,99 I now see, that's somewhere ON the supportline
IMOS isn't making it easy for me :(
Guys...I think your patience with this stock is about to payoff. It looks like the trend line held and it had a good close. I am thinking of taking a position in this tomorrow morning. Have you noticed the CMF for this stock on the charts? Very positive money flow.
I think Semis should perfrom well and should perform even better in this sector.
Quote from: AustinPowers on August 01, 2005, 10:02:59 PM
Guys...I think your patience with this stock is about to payoff. It looks like the trend line held and it had a good close. I am thinking of taking a position in this tomorrow morning. Have you noticed the CMF for this stock on the charts? Very positive money flow.
I think Semis should perfrom well and should perform even better in this sector.
I think you're right, and you know what the terrible part about that is???
I just hadn't enough patience .. I sold around 10:30 with a loss at 7,00
IMOS update :
I have sold all my IMOS shares on the 22nd of July (7.10$).
Something happened @ RBC Conference but I don´t know what.
It will be interesting if the 6.38 $ resistance will hold (200MA; 50MA (6.68$ was broken)), I´m having IMOS definitly on my radar, but probably we have to wait for Q2 results!
IMOS update:
ChipMOS may expand flash memory testing
Amy Lee, Hsinchu; Esther Lam, DigiTimes.com [Friday 5 August 2005]
ChipMOS Technologies is looking to expand its flash memory testing capacity as it negotiates orders with a leading flash memory maker.
Sources had suggested that ChipMOS had already landed the flash chip probing orders and was expanding its flash probing capacity to 14 million units per month, but ChipMOS responded by saying that the orders are still being negotiated.
If the company does expand its capacity, it will utilize the Hsinchu base that it will acquire as part of its announced merger with subsidiary Chantek Electronic, according to a company executive. ChipMOS currently sub-contracts gold bumping to Chantek's Hsinchu plant and this will continue after the merger is finalized, the company said.
For LCD driver IC testing and packaging, for which ChipMOS holds a strong market share, the company is reducing its capacity expansion plan upon a cautious outlook. Despite the cutback, monthly LCD driver IC capacity using tape carrier package (TCP) and chip on film (COF) technology will increase to 38 million chips per month in the fourth quarter, up from the current 35 million chips; chip on glass (COG) packaged LCD driver IC capacity will expand from the current 17 million chips to 23 million in the same period.
ChipMOS explained the reduced capacity ramp is not related to the rate at which orders are coming in, but the company is now taking a more conservative approach to capacity expansion. ChipMOS will expand its LCD driver IC capacity subject to more concrete forecasts from customers in the future.
Forecasting the sector outlook for this quarter, ChipMOS chairman and CEO SL Cheng indicated that strong foundry orders signaled a positive trend for testing and packaging vendors. Together with the traditional hot season impact, ChipMOS is confident about this quarter's financial performance.
Link:
http://www.digitimes.com/NewsShow/Article_print.asp?datePublish=2005/08/03&pages=A9&seq=50
Michael, what´s your opinion?
Cheers
Oliver
seems like me selling at 7 wasn't that bad after all.
Will keep an eye on this one ..
what about you Melf? still in?
nice summarization about open questions from yahoo board:
???
Despite Cheng's assurances...
by: stockhunter2004 08/05/05 02:14 am
Msg: 23075 of 23077
"Forecasting the sector outlook for this quarter, ChipMOS chairman and CEO SL Cheng indicated that strong foundry orders signaled a positive trend for testing and packaging vendors. Together with the traditional hot season impact, ChipMOS is confident about this quarter's financial performance."
What does this mean? Of course Q3 will be higher than Q2, but will it meet guidance? Will the increased revenues be enough to cover the increased overhead?
Despite Cheng's assurances, I have concerns...
* Business may be softer than managment admits. In addition to the "soft July" comment and Shanghai delay, there are other signs of business weakening. The percent capacity reported by IMOS for its long terms contracts has decreased over the last two quarters from 57% in Q3/04 to 44% in Q1/05 and now 35% reported at RBC. This decline is at odds with increasing market demand and increasing capacity from new facilities.
* Overhead from large capital expenditures for new facilities in Shanghai will increase the risk of unused capacity. Overhead is fixed and cannot be reduced if customer orders are "soft." Comparing Q4 to Q3 of 2004, income margins dropped from 9% to 3% with a decrease in revenues of just $10M per quarter, which suggests that if quarterly revenues fall below $106M IMOS quarterly earnings will go negative. With the new facilities coming on line in China, the overhead will push that quarterly minimum even higher.
* High concentration of revenues from a few customers increases the market risk. The top five customers generated 67% of revenues in Q1/05, up from about 57% in Q1-Q3 '04. The largest customer, ProMos represented almost 30% in Q1-Q3 '04 (no recent data). If only one of these customers were to fail or change their testing and assembly vendor, it could signficantly affect IMOS profitability.
* It is not clear what, if any, contingency plan IMOS has to mitigate the costs of excess capacity in the event of an inevitable market downturn. Isn't that why manufacturers outsource testing and assembly?
* Institutions are recent owners of IMOS, increasing ownership from 4% to 20% since January. Most are probably about breakeven here and may not want to risk a loss if they think management will miss on earnings for 2006. Institutions are sensitive to errors in financial guidance and more likely to sell if management loses credibility.
* Management asserts that Shanghai gives IMOS a "first-mover" competitive advantage. However, to maintain operations there, it must invest another $157M by the end of 2007. In order to do so, the company will need to raise money.
* Management has requested the authorization of 75 million blind preferred. Presumably, they plan to raise money for Shanghai and other new equipment. If a they raise $75-150 million, that would dilute the shares by 10-23 million shares (assuming pps of $6.60-7.50). Issuance of 10M shares will result in a total outstanding shares of 77.5M and automatically reduce the 2006 EPS from $1.03 to less than $.90. If there are more than 10M new shares, EPS will be reduced further.
The biggest reason to invest in IMOS is because the forward PE is only 6-7 based on EPS of $1.03 in 2006. The question is can IMOS achieve $1.03 EPS in 2006? If the EPS were reduced to $.50 in 2006, the PE would doubles to 12-14 and the stock does not looks so cheap. If excess capacity in 2006 sends the earnings into negative territory, all bets are off.
Link:
http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=1601702889&tid=imos&sid=1601702889&mid=23075
Quote from: nikao on August 05, 2005, 04:24:05 AM
seems like me selling at 7 wasn't that bad after all.
Will keep an eye on this one ..
what about you Melf? still in?
No, Nikao, I sold it for 6.90 when it took out Monday's6.91 low. 7.7% loss. Very disappointing after the mid-July breakout above an eight-month Ascending Triangle, particularly with its competitor, ASTSF, still above its July breakout. Remember when I said that I felt like I was riding the wrong horse? I was. :'(
I will wait for offical number before reentering, still on my radar. :P
RBC update:
http://messages.yahoo.com/bbs?.mm=FN&action=m&board=1601702889&tid=imos&sid=1601702889&mid=23209&um=52&.sig=QnedxKCk7IvXBLnb.Euxng--
Hmmm... Q2 is here: http://biz.yahoo.com/prnews/050818/hkth004.html?.v=9
I had hoped that the increased in Capacity utilization and initiatives to increase efficiencies would be reflected in the bottom line. Instead they post a EPS of 0.04. A lot of excuses for the disappointing result but nothing concrete.
I don't know how the market will react on the result but IMOS is now off my watch list. There are so many other great companies out there so why waste my time on IMOS?
very disappointing >:(
also off my watchlist
you have checked ECST?
Hi Oliver,
Had a look at ECST and didn't like what I saw. Revenue increased with only 6% in Q2. Order size goes down and advertising spend goes up.....
EPS (ttm) -0.75 not my kind of stock - sorry
It was a quick look though so if you know better please tell me!
IMOS update:
http://www.digitimes.com/NewsShow/NewsSearch.asp?DocID=00000000000000000000000000003746&query=CHIPMOS
;)
BO ??
updated chart:
1.)
IMOS: RBC Capital Cuts to Sector Perform from Outperform; Cuts Tgt to $7 vs $9; Analyst Notes
Thursday , November 03, 2005 07:19 ET
Issuer: ChipMOS Technologies Bermuda LTD (NasdaqNM: IMOS)
Analyst Firm: RBC Capital Markets
Ratings Action: DOWNGRADE
Current Rating: Sector Perform (from Outperform)
Target Price Action: DECREASE
Target Price: $7.00 (-22.22% from $9.00)
Analyst Comments: The firm's checks indicate that DDR2 volumes remain weak and that firm believes the DDR2 memory transition is a 2006 story. They are lowering their Q4 est to 15c/$124M from 19c/$139.7M.
2.)
IMOS: Announces Conversion Price Change in $75M PIPE
Friday , November 04, 2005 11:54 ET
ChipMOS Technologies Bermuda LTD (NasdaqNM: IMOS) has announced in a press release that it has notified the The Bank of New York, Trustee to its Indenture, dated November 3, 2004, that the conversion price has been adjusted from US$7.85 per common share to US$6.28 per common share, with effect from November 3, 2005.
downtrend IMO
ChipMOS REPORTS NOVEMBER 2005 REVENUE
Hsinchu, Taiwan, December 16, 2005 – ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or "the Company") (Nasdaq: IMOS) today reported its unaudited consolidated revenue for the month of November 2005.
Revenue for the month of November 2005 was NT$1,424.2 million or US$42.5 million, an increase of 4% from NT$1,373.9 million or US$41.0 million for the month of October 2005 and an increase of 20% from NT$1,184.5 million or US$35.4 million for the same period in 2004. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$33.50 against US$1.00 as of November 30, 2005.)
ChipMOS' November 2005 consolidated revenue included revenues of ChipMOS TECHNOLOGIES INC., ChipMOS Japan Inc., ChipMOS U.S.A., Inc., ChipMOS TECHNOLOGIES (H.K.) Limited, ChipMOS Logic TECHNOLOGIES INC., CHANTEK ELECTRONIC CO., LTD., Modern Mind Technology Limited and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD., and ThaiLin Semiconductor Corp.
IMOS has crossed the 50 EMA line today!
Please check SPIL BO also...
cheers
Oliver
IMOS: Short Interest UP 37.2% to 1.3M in Dec 2005
Tuesday , December 27, 2005 16:17 ET
According to new short interest data from NASDAQ, short interest for ChipMOS Technologies Bermuda LTD (NasdaqNM: IMOS) INCREASED 37.2% to 1,275,812 shares for the month ended mid-December, 2005.
SYMBOL NOVEMBER DECEMBER CHANGE %CHANGE DAYS/COVER
-------- ------------- ------------- ------------- ------------ ----------
IMOS 929,779 1,275,812 +346,033 +37.22% 4
Based on IMOS's 20-day average daily share volume of 373,349, it would require approximately 4 day(s) of buying to cover this short interest.
updated chart:
IMOS Earnings Preview: Two Analysts Say Outperform
Friday , March 10, 2006 15:48 ET
ChipMOS Tech (IMOS), a semiconductor testing and packaging firm, is slated to report Q4 earnings on March 13th after the market closes. The Company is the "Tail End Charley" when it comes to semi equipment industry earnings. Other semi test and/or packaging firms have reported generally boffo results for Q4. However, IMOS has a spotty history with respect to the EPS estimate, and already reported revenue is light. Two analysts reiterated their OP ratings for IMOS this week. Q4 estimate is 18c vs. 5c last year. 2005 estimate is 52c vs. 84c last year.
Bulls Say:
--- Revenue and EPS growth: The Multex mean Q4 EPS estimate is 18c vs. 5c last year. 2006 full year Multex EPS estimate is 83c/sh for fwd P/E of 8.6.
--- The Semi Cap Equipment industry is producing a lot of earnings surprises.
Below are some Q4 results illustrating the strength of the bounceback in the Dec quarter.
+ BRKS (automation products) reported 2c (adj); 6c above the Multex estimate (Dec)
+ API (wafers, testing, OEM products) reported 1c on 69% revenue growth.
+ ACLS (equipment) reported 1c, 4c better than the Multex est. (Dec)
+ AMKR (packaging, testing) reported 30c, 150% above the 12c Multex est (Dec)
+ ASTSF (testing) reported 26c, 60% above the 15c Multex est (Dec)
+ COHU (testing) reported 53c, 29% above the 41c Multex est (Dec)
+ FORM (testing) reported 25c, 25% above the 20c Multex est (Dec)
+ UTEK (lithography) reported 10c (adj), 150% above the 4c Multex est (Dec)
+ PLAB (photomasks) reported 23c; 8c above the Multex estimate (Jan qtr).
--- IMOS: Value stock.
Price/Tangible Book Value: 1.56
Cash/Share: 42.57
P/Sales: 0.98.
Est 2005 PE ratio: 13.9
Adj Price of Mkt - Cash = 4.68
Adj est 2005 PE ratio: 9.0
Est EPS Growth Rate: 25%
Adj PEG: 9/25 or 0.36
--- FBR reiterated its Outperform rating for IMOS yesterday, target price $9.
--- T. Weisel reiterated is OP rating with an 82c 2006 EPS estimate and $10 tgt.
Bears Say
--- IMOS has already reported Q4 revenue of $119.8 million (Dec 30 exchange rate), BELOW the $130 million Multex estimate.
--- IMOS has missed the Multex mean quarterly EPS in 3 of the last 5 quarters.
--- IPOs signal semi manufacturing equipment have had their run.Two chip test equipment firms are cashing out via IPOs this month. Eagle Test Systems (EGLT) went public at $15.50/sh this week. An early investor, private equity firm TA Associates, will take 76% of the offering proceeds. The CEO and founder of the 30-year-old company sold 370,000 shares in the offering. Nextest Systems is expected to float its IPO later this month.
--- Feb 27 report: Amkor (AMKR) to Commence Wafer Bumping in Singapore with start-up projected for the second half of this year. This puts AMKR into competition with IMOS.
--- Analysts disagree on outlook for industry.
+ AMAT: CIBC ups Applied Materials to OP from SP.
(-) MTSN: CIBC Cuts to Sector Perform from Outperform; $9 tgt.
(-) AMAT,KLAC,ASTSF: Pacific Crest cut KLA Tencor to Sec Perform.
(-) NVLS,AMKR: Pacific Crest cut Novellus and Amkor to Underperform from MP, citing peaking capex spending.
ChipMOS REPORTS FOURTH QUARTER AND FULL YEAR 2005 RESULTS
Hsinchu, Taiwan, March 14, 2006 – ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today reported unaudited consolidated financial results for the fourth quarter and full fiscal year ended December 31, 2005. All U.S. dollar figures in this release are based on the exchange rate of NT$32.85 against US$1.00 as of December 30, 2005. Revenue for the fourth quarter of 2005 was NT$4,282.9 million or US$130.4 million, an increase of 16% from NT$3,678.7 million or US$112.0 million for the same period in 2004. On a consolidated basis, the gross margin for the fourth quarter of 2005 was 31%, compared to 23% for the same period in 2004. Net income for the fourth quarter of 2005 was NT$475.8 million or US$14.5 million, and NT$7.03 or US$0.21 per common share, compared to net income of NT$106.4 million or US$3.2 million, and NT$1.59 or US$0.05 per common share, for the same period in 2004.
Revenue for the fiscal year ended December 31, 2005 was NT$15,214.0 million or US$463.1 million, an increase of 1% from NT$15,035.8 million or US$457.7 million for the fiscal year ended December 31, 2004. On a consolidated basis, the gross margin for the full year of 2005 was 26%, compared to 28% for the full year of 2004. The decrease in gross margin in 2005 was primarily due to low utilization rates in the first quarter of 2005. Net income for the fiscal year ended December 31, 2005 was NT$928.2 million or US$28.3 million, and NT$13.74 or US$0.42 per common share, compared to net income of NT$1,675.9 million or US$51.0 million, and NT$26.54 or US$0.81 per common share, for the fiscal year ended December 31, 2004. The impact of impairment loss of fixed assets and goodwill that the Company recognized in 2005 was approximately NT$4.41 or US$0.13 per common share. Full year results were also impacted by higher tax expenses and costs associated with the Company's interest in bonuses paid by subsidiaries.
The unaudited consolidated financial results of ChipMOS for the fourth quarter and the fiscal year ended December 31, 2005 included the financial results of ChipMOS TECHNOLOGIES INC., ChipMOS Japan Inc., ChipMOS U.S.A., Inc., ChipMOS TECHNOLOGIES (H.K.) Limited, ChipMOS Logic TECHNOLOGIES INC. (which was merged into ThaiLin Semiconductor Corp. on December 1, 2005), CHANTEK ELECTRONIC CO., LTD. (which was merged into ChipMOS TECHNOLOGIES INC. on November 21, 2005), Modern Mind Technology Limited and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD., and ThaiLin Semiconductor Corp.
S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We were able to deliver 12% growth in revenue for the fourth quarter of 2005, compared to the third quarter of 2005 even though we had some temporary revenue delays as a result of mergers involving two of our subsidiaries in the fourth quarter. This growth was primarily due to the higher utilization rates for both memory and LCD driver IC production lines as a result of strong end market demand and a price increase in LCDD resulting from tight backend capacity. We also continued building long-term customer relationships, with the recent announcement of our contract with Spansion LLC. With more and more companies increasingly outsourcing testing and assembly services, we are currently well positioned to meet the demand in the markets we serve."
S.K. Chen, Chief Financial Officer of ChipMOS, said, "We continued to maintain our controls on expense and capex to maximize our profits, while providing our customers with the superior service and engineering support. Gross margin for the fourth quarter of 2005 was 31%, higher than previously expected due to higher utilization rates, an improved pricing environment and a favorable product mix. We currently believe a gross margin at the high 20% level is sustainable as we focus on higher margin business, while benefiting from increased utilization rates. We are also pleased with our ongoing ramp in China. We are committed to this market and currently plan to invest an additional US$100 million in 2006. We currently also plan to invest approximately US$140 million in support of our new business with Spansion LLC in 2006, and approximately US$60 million to US$80 million in support of our DDR II testing and 12" assembly capabilities. Between US$50 million to US$100 million is expected to be invested in our routine capacity expansion on LCD driver IC in Taiwan. While we currently expect 60% to 65% of our capex investments will occur in the first half of 2006 to meet existing demand levels, we remain very conservative and have no intention to invest more than we have to. We do not plan to invest in areas not tied to specific customer programs."
Looking forward, Cheng, commented, "We remain cautiously optimistic about the market environments for the memory and LCD industries in 2006. We currently expect to achieve significant revenue growth this year led by growth in our flash, DDR II DRAM, and LCD driver IC businesses. Notably, we currently do not expect any decrease in demand in 2006 based on current customer forecasts. While the first quarter is traditionally slower for the industry, order rates this year remain high in support of existing end market demand. As a result, based on current customer forecasts and based on the exchange rate of NT$32.85 against US$1.00, we currently expect revenue for the first quarter of 2006 will be in the range of approximately US$127 million to US$130 million, with gross margin on a consolidated basis approximately in the range of approximately 28% to 30%."
Imos now expect Q1 06 revenue about $130 million. Q1 05 IMOS revenue is about $100 million. This means IMOS revenue will grow about 30% this Q comparing with last year. Earning should raise at least 200% IMO.
updated factsheet:
http://www.shareholder.com/chipmos/downloads/factsheet.pdf
IMOS: ChipMOS Beats EPS est.; T. Weisel ups '06 EPS View
Tuesday , March 14, 2006 07:30 ET
ChipMOS Technologies reported Q4 Results Adj 21c vs 5c; Beating the 18c Est; GAAP EPS was 13c; Q4 revenue was up 16.4% (in-line); In-Line Q1 Revenue Guidance. Thomas Weisel upped its 2006 EPS estimate to 96c from 82c, citing margin improvement. IMOS shares fell 2% in late Monday trading.
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IMOS: RBC Capital Keeps @ Sector Perform; Ups Tgt to $8 vs $7; Analyst Notes
Tuesday , March 14, 2006 09:27 ET
Issuer: ChipMOS Technologies Bermuda LTD (NasdaqNM: IMOS)
Analyst Firm: RBC Capital Markets
Ratings Action: REITERATION
Current Rating: Sector Perform
Target Price Action: INCREASE
Target Price: $8.00 (+14.29% from $7.00)
Analyst Comments: As the firm expected, Q1 is tracking better than industry seasonality (down 3-8% sequentially). Management expects Q1 revenues to be in the range of US$127M to US$130M. They continue to model Q1 revenues at $129.3M. They also believe that the stock has potential to reach their price target as investors see the upside to estimates driven by the excellent gross margin improvements.
nice february results imo 8)
ChipMOS REPORTS FEBRUARY 2006 REVENUE
Wednesday March 15, 8:00 am ET
HSINCHU, Taiwan, March 15 /Xinhua-PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company'') (Nasdaq: IMOS - News) today reported its unaudited consolidated revenue for the month of February 2006.
Revenue for the month of February 2006 was NT$ 1,407.0 million or US$43.3 million, a decrease of 1% from NT$1,418.8 million or US$43.7 million for the month of January 2006 and an increase of 37% from NT$1,029.2 million or US$31.7 million for the same period in 2005. (All translations from NT dollars to U.S. dollars were made at the exchange rate of NT$32.46 against US$1.00 as of February 27, 2006.)
ChipMOS' February 2006 consolidated revenue included revenues of ChipMOS TECHNOLOGIES INC., ChipMOS Japan Inc., ChipMOS U.S.A., Inc., ChipMOS TECHNOLOGIES (H.K.) Limited, MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD., and ThaiLin Semiconductor Corp.
earnings today !!
BO alert??
IMOS: To Release Q1 Results May 03 [AMC]
Wednesday, May 03, 2006 08:30 ET
ChipMOS Technologies Bermuda LTD (Nasdaq NM: IMOS) is scheduled to release its Q1 financial results on May 03, 2006, after the close of the market (AMC).
CONSENSUS ESTIMATES:
Q1 Revenue: $129.88 million
Q1 EPS: $0.22 per share
PREVIOUS PERIOD:
Prev Q1 Revenue: $105.90 million
Prev Q1 EPS: $0.08 per share
IMOS quotations:
Looking forward, Cheng, commented, "We remain cautiously optimistic about the market environments for the memory and LCD industries in 2006. We currently expect to achieve significant revenue growth this year led by growth in our flash, DDR II DRAM, and LCD driver IC businesses. Notably, we currently do not expect any decrease in demand in 2006 based on current customer forecasts. While the first quarter is traditionally slower for the industry, order rates this year remain high in support of existing end market demand. As a result, based on current customer forecasts and based on the exchange rate of NT$32.85 against US$1.00, we currently expect revenue for the first quarter of 2006 will be in the range of approximately US$127 million to US$130 million, with gross margin on a consolidated basis approximately in the range of approximately 28% to 30%."
link:
http://www.shareholder.com/chipmos/ReleaseDetail.cfm?ReleaseID=190171
&
awesome results >:D >:D >:D >:D
IMOS: Q1 EPS 27c vs 8c Beats 22c Est
Wednesday, May 03, 2006 16:08 ET
QUARTER RESULTS
ChipMOS Technologies Bermuda LTD (IMOS) reported Q1 results ended March 2006. Q1 Revenues were $134.50M; +27.01% vs yr-ago; BEATING revenue consensus by +3.56%. Q1 EPS was 27c; +237.50% vs yr-ago; BEATING earnings consensus by +22.73%.
Q1 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $134.50M $105.90M +27.01% $129.88M +3.56%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 27c 8c +237.50% 22c +22.73%
---------- ------------ ------------ ---------- ------------ ----------
ADDITIONAL COMMENTARY:
IMOS currently expects a growth period for LCD TVs will occur in the second half of this year due to price reductions. In addition, IMOS expects other LCD segments, like monitors, will also back on track in the second half reflecting normal trends.
&
ChipMOS REPORTS FIRST QUARTER RESULTS
Wednesday, May 03, 2006 16:05 ET
HSINCHU, Taiwan, May 4, 2006 /Xinhua-PRNewswire-FirstCall via COMTEX/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today reported unaudited consolidated financial results for the first quarter ended March 31, 2006. All U.S. dollar figures in this release are based on the exchange rate of NT$32.46 against US$1.00 as of March 31, 2006.
Revenue for the first quarter of 2006 was NT$4,367.1 million or US$134.5 million, an increase of 30.8% from NT$3,339.5 million or US$102.9 million for the same period in 2005 and an increase of 2.0% from NT$4,282.9 million or US$131.9 million in fourth quarter of 2005. On a consolidated basis, the gross margin for the first quarter of 2006 was 31.5%, compared to 20.3% for the same period in 2005 and 31.5% for the fourth quarter of 2005. Net income for the first quarter of 2006 was NT$601.6 million or US$18.5 million, and NT$8.86 or US$0.27 per common share, compared to net income of NT$173.5 million or US$5.3 million, and NT$2.58 or US$0.08 per common share, for the same period in 2005 and net income of NT$475.8 million or US$14.7 million, and NT$7.03 or US$0.22 per common share, for the fourth quarter of 2005.
The unaudited consolidated financial results of ChipMOS for the first quarter ended March 31, 2006 included the financial results of ChipMOS TECHNOLOGIES INC., ChipMOS Japan Inc., ChipMOS U.S.A., Inc., ChipMOS TECHNOLOGIES (H.K.) Limited, MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD., and ThaiLin Semiconductor Corp.
S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "We are pleased with our performance in this quarter, as we were able to deliver an approximately 30% growth in our top-line compared to the same period in 2005. Our performance during the first quarter of 2006 was primarily driven by strong demand for our DDR II DRAM and flash businesses. Notably, the transition to DDR II continues to gain momentum. We currently expect DDR II memory will exceed DDR in quantity in the second quarter of this year and revenue from DDR II will contribute significantly to our revenue from memory semiconductors in the fourth quarter of 2006. For the LCD driver IC business, revenue was down by 5% compared to the fourth quarter of last year due to lower utilization rates of TCP for monitor applications, primarily resulting from seasonal effects."
S.K. Chen, Chief Financial Officer of ChipMOS, said, "Our revenue growth and product mix, combined with our continued focus on expenses, resulted in another strong quarter for ChipMOS. Our gross margin of 31.5% during the first quarter of 2006 was higher than previously expected. However, we lowered our capital expenditures budget in the first quarter of 2006 due to our revised outlook for LCD driver IC demand in the second quarter and excess TSOP assembly capacity following the DDR II transition. We will continue to invest carefully as we work to align our resources with market demands."
Looking forward, Cheng, commented, "We remain cautiously optimistic about our business for the near and long-term. The ramp-up of our flash business is in line with our expectations. In the LCD driver IC segment, we have strategically concentrated our services on LCD TV applications that we currently expect to be high growth and employed our proprietary COF technology. While sales of LCD TVs remained strong in the first quarter, there was a downturn in the LCD panel market due to seasonality. We currently expect a growth period for LCD TVs will occur in the second half of this year due to price reductions. In addition, we expect other LCD segments, like monitors, will also back on track in the second half reflecting normal trends. We currently expect this to lead to a growth for our LCD business in the second half this year compared to the first half. We currently also expect our DDR II business to be our major contributor to revenue growth this year as the long awaited transition from DDR to DDR II driven by favorable market prices appears to finally be occurring. ChipMOS is a strategic partner to our key customers as we assist them in solving DDR II capacity shortage problems. As a result, based on current customer forecasts, and the exchange rate of NT$32.46 against US$1.00, we currently expect revenue for the second quarter of 2006 will be in the range of approximately US$137 million to US$143 million, with gross margin on a consolidated basis in the range of approximately 27% to 30%. We expect lower gross margin in the second quarter compared to the first quarter primarily because we are expecting lower utilization rates in LCD and DDR production lines and higher depreciation cost from capacity prepared for production needs in the second half this year."
this baby will fly tomorrow IMO
cheers
Oliver
chart:
awesome !!!!
It seems IMOS has been steadily accumulated lately. I'm in from 7.18 a couple days ago, currently showing a minor loss.
The volume has been consistently strong and the chart is pretty bullish, bounced off 20 ema today. I feel like the fundamentals have outpaced the PPS action for quite some time, and we could see some pretty outstanding gains. The stock could triple and still not be very overvalued. The PE is in the 7-8 range right now. The company is growing.
Here's the daily and weekly charts..
The chart and the fundamentals really seem to be coming together on this one.
The volume is huge, 1 million shares traded by noon central time, and price is acting well.
Currently at bid 7.23 ask 7.24. hod 7.26.
I think the volume should push us to a new high for this run, and a test of the 52 week high of 8.32 is pretty likely I'd say. The fundamentals should push us right through. I'm probably overly bullish, but I can see this stock making a pretty quick run to double digits based on fundamentals and the awesome volume lately. The PE is 7 (!) and the revenues grew 30-40% this year, continually showing growth Q over Q. I don't see anything missing from this picture.
Over 4 mill shares traded yesterday and up in AH as well. IMOS chart and fundamentals look beautiful. I think its time to ride this one up its going blow through resistance tomorrow from the looks of it. Im going to buy this tomorrow in the morning.
I like IMOS here both from a technical and fundamental point of view.
The new shareholder structure will not only make the company more transparent but should also be accreditive to earnings.
I think some investors misread the pressrelease yesterday and that is probably why you had the huge volume.
please check updated IMOS presentation:
http://www.shareholder.com/chipmos/downloads/presentation.pdf
please MERGE the minimum3 IMOS threads setravis ;)
fyi:
SPIL unlikely to use ChipMOS to speed up its China deployment
Ingrid Lee, Taipei; Esther Lam, DigiTimes.com [Wednesday 14 February 2007]
While some industry players regard Siliconware Precision Industries (SPIL)'s restructuring of its stake in ChipMOS Technologies as preparation for increased investment in China, SPIL's ability to invest in China through ChipMOS should be limited, given the limited facilities ChipMOS has in China.
Since SPIL increased its stake in ChipMOS Technologies (Bermuda), which houses a memory packaging and testing plant in Shanghai, some industry players consider SPIL to be preparing a move for increased access to the facility.
However, given that SPIL already houses a production base in China and its application for lead-frame based IC backend production in China is already proceeding, linking the share rearrangement to any speculation about speeding up any China deployment seems unconvincing.
Although SPIL and ChipMOS both belong to the same "virtual" group, the business ties between them are actually not that strong. Since the two companies do not currently share any fab for joint production, it is just as easy for SPIL to construct its own fab in China rather than use a ChipMOS facility, industry sources noted. Another factor to consider is that the production scale of the ChipMOS plant in Shanghai is limited. The sources noted that monthly sales at the Shanghai plant only total about NT$70 million, though major customers include Etron Technology, Macronix International Company (MXIC), Semiconductor Manufacturing International Corporation (SMIC) and Spansion.
Nice ;D
I need to be patient and realize the gains in this one. Sold my ONNN for a small gain in the 8s, as I watch it cruise into the 10 range.
The fundamentals easily point to a valuation in the teens, especially if the semi sector heats up. Let's watch and see.
MOS: Q1 EPS 18c vs 21c Meets 18c Est; Guidance In-Line with Consensus
Thursday , May 03, 2007 16:32ET
QUARTER RESULTS
ChipMOS Technologies Bermuda LTD (IMOS) reported Q1 results ended March 2007. Q1 Revenues were $172.90M; +30.98% vs yr-ago; MISSING revenue consensus by -0.37%. Q1 EPS was 18c; -14.29% vs yr-ago; MATCHING earnings consensus.
Q1 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $172.90M $132.00M +30.98% $173.54M -0.37%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 18c 21c -14.29% 18c 0.00%
---------- ------------ ------------ ---------- ------------ ----------
GUIDANCE
Q2-07 Revenue Outlook [$173 - $182M]: revenue for the second quarter of 2007 will be in the range of approximately US$173 million to US$182 million The Q2-07 revenue forecast is in-line with current consensus estimates.
From Briefing:
08:39 IMOS Chipmos Technology: UTAC private equity takeover multiple implies more than a double for ChipMOS - Merriman (6.97 )
Merriman notes the United Test and Assembly Center, a competitor to IMOS, announced on Tuesday the intent of Texas Pacific Group and Affinity Equity Partners to acquire the co via their joint venture Global A&T Electronics. Firm believes important customers include Broadcom Corp. (BRCM), Marvell Technology Group (MRVL) and SanDisk (SNDK). Firm says the bid price of $0.76 per share equates to a $1.43 bln market cap and a $1.69 bln enterprise value. Using this multiple for IMOS, firm gets a stock price for IMOS of $15.32 or a 120% premium to where it trades; not to mention IMOS was FCF-positive last quarter while UTAC was not.
IMOS update:
ChipMOS SIGNS REGISTRATION RIGHTS AGREEMENT WITH THREE MAJOR SHAREHOLDERS
Hsinchu, Taiwan, August 8, 2007 – ChipMOS TECHNOLOGIES (Bermuda) LTD.
("ChipMOS" or the "Company'') (Nasdaq: IMOS) today announced that, on
August 8, 2007, the Company signed a Registration Rights Agreement
(the "Agreement") with Giant Haven Investments Limited, a wholly-owned
subsidiary of Mosel Vitelic Inc. ("MOSEL") (TAIEX: 2342), ProMOS
Technologies Inc. ("ProMOS") (TAIEX: 5387) and Powertech Technology
Inc. ("Powertech") (TAIEX: 6239) under which the Company granted to
MOSEL, ProMOS and Powertech certain rights to require the Company to
register their common shares for sales under the U.S. Securities Act
of 1933.
The Company's major shareholder, MOSEL, announced on July 27, 2007 a
private sale of 8,121,266 common shares of ChipMOS held through Giant
Haven Investments Limited to ProMOS and Powertech (the "Transaction").
After the Transaction, MOSEL will hold 10,850,052, or 13.1% of
ChipMOS' outstanding common shares, and each of ProMOS and Powertech
will hold 4,060,633, or 4.9% of ChipMOS' outstanding common shares.
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SPIL disposes of KYEC shares
Ingrid Lee, Taipei; Esther Lam, DIGITIMES [Friday 10 August 2007]
With Siliconware Precision Industries (SPIL) already noting that the company would gradually dispose of its shares at affiliates, the company has now announced the sale of King Yuan Electronics Company (KYEC) shares.
SPIL announced on August 9 that it had disposed of 11.3 million shares of KYEC at a per unit price of NT$2.72 billion from July 11 to August 9. The recognized gain will be NT$189 million. After the share disposal, SPIL's stake in KYEC has been reduced from 7.9% to 6.76%.
While SPIL company chairman Bough Lin previously said the company has scheduled the disposal of shares of ChipMOS Technologies and Sigurd Microelectronics, he also noted that SPIL does not plan to reduce its stake in Phoenix Precision Technology (PPT) as the company is a vital IC substrate partner for SPIL. SPIL formed its so-called "virtual SPIL group" in 2000 through investment in fellow industry players. The testing and packaging house aimed to establish a complete supply chain that could offer it a stronger stance to compete against Advanced Semiconductor Engineering (ASE) and Amkor Technology. At one point,
this virtual group saw its group sales outperform that of rivals, but members within the group are also running into business conflicts with one another, industry players commented. The order bidding situation between group members has become severe, especially for those orders related to United Microelectronics Corporation (UMC), according to industry sources.
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ChipMOS TECHNOLOGIES Second Quarter 2007 Results Conference Call
Wednesday August 15, 2007 - 7:00 PM ET
Slide update:
slides update:
IMOS is on my watchlist >:D
TCP quickly loses ground to COF in driver IC packaging
Ingrid Lee, Taipei; Rodney Chan, DIGITIMES [Tuesday 21 August 2007]
Tape-carrier packaging (TCP) is coming under heavy price pressure in the third quarter as it is being quickly replaced by chip-on-film (COF) packaging as the mainstream technology for driver IC packaging amid growing demand for smaller and slimmer consumer electronics.
While COF utilization at back-end service suppliers is mostly at 90% or more in the third quarter, TCP suppliers are resorting to pricing in order to keep their capacity running, the observers said. ChipMOS Technologies last week also pointed out that the TCP market was under price pressure.
With LCD panels' resolution increasing, the driver IC pin count is growing and the pitch reducing. Because of its technological limitations for accommodating finer pitch, TCP started to see COF emerge as a replacement mainstream driver IC packaging technology about three years ago. Although Chipbond Technology chairman FJ Wu estimates that in 2006 the industry still saw more TCP capacity than COF capacity, he noted that by the first quarter of 2007, TCP had already taken a large lead over COF in terms of the amount of equipment deployed.
Price pressure also emerged in the first half of the year, though prices did not go down much. However, now prices are decreasing even during the third-quarter high season, the pressure for further price drops will be stronger when the low season comes, the observers said.
Wu said as TCP equipment cannot be adjusted to COF, Chipbond started focusing on COF when purchasing equipment two years ago. However, companies that invested heavily in TCP equipment now face losses when they have to phase out their equipment, the observers added.
Currently Chipbond's COF monthly capacity amounts to 34 million units, and will increase to 40 million units by the end of the year, Wu said, adding the company does not have too much pressure from the TCP segment, because it currently only has a monthly TCP capacity of 5 million units. Chipbond's utilization for COF was 80% in the second quarter, and is expected to reach almost 90% for the third quarter, according to the observers.
International Semiconductor Technology (IST) was running at 80% for its COF capacity in the second quarter, and it plans to expand its COF capacity 10% to 40 million units in the third quarter, the observers said.
ChipMOS' COF capacity is maintaining a 90% utilization rate in the third quarter, and will top 90% in the fourth quarter, the observers added.
ChipMOS FILES PATENT INFRINGEMENT SUIT AGAINST WALTON ADVANCED ENGINEERING INC.
Wednesday, September 05, 2007 08:00ET
HSINCHU, Taiwan, Sept. 5 /Xinhua-PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) announced today that its 99.14% owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan") filed a lawsuit on September 5, 2007 Taiwan time in Kaohsiung District Court against Walton Advanced Engineering, Inc. ("Walton"), alleging infringement by Walton of two of ChipMOS Taiwan's BGA (Ball Grid Array) package related patents which are used for DDR II SDRAM devices.
ChipMOS Taiwan obtained from the retail market several branded memory modules packaged by Walton and sent them to a professional appraisal institution for investigation. ChipMOS Taiwan decided to file the litigation based upon the investigating report of this professional appraisal institution, which concluded that the package device employed on the aforementioned modules infringed ChipMOS Taiwan R.O.C. patent no. 207627 "Substrate on Chip Packaging Process" and patent no. 207525 "Substrate on Chip Packaging Process".
For Patent Summary, please refer to the link:
http://xprnnews.xfn.info/chipmos/patent.htm .
ChipMOS highly values intellectual property while continuously focusing on the R&D of advanced technology and products. As of July 31, 2007, ChipMOS and ChipMOS Taiwan have accumulated 456 registered and active patents, which is a key factor in the Company's leading status of memory and LCD driver SATS (Semiconductor Assembly and Test Services) industry. In order to protect its patents and shareholders' rights, ChipMOS Taiwan decided to file the patent infringement lawsuit against Walton, seeking NT$15 million in monetary damages at the initial stage for the losses ChipMOS Taiwan suffered as well as a court order prohibiting Walton from using the allegedly infringing technology.
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ChipMOS likely to gain LCD driver IC and memory backend production orders from Samsung
Ingrid Lee, Taipei; Esther Lam, DIGITIMES [Thursday 6 September 2007]
Samsung Electronics is releasing more of its LCD driver IC and memory backend production orders to subcontractors. ChipMOS Technologies is said to be in talks with Samsung for these potential orders, according to industry sources.
Following the outsourcing of LCD driver IC chip-on-glass (COG) orders to Chipbond Technology, industry sources have suggested that the Korea-based chipmaker is in talks with ChipMOS over LCD driver IC packaging and memory orders.
Executives from Samsung visited the ChipMOS Shanghai plant during August to assess the outsourcing of LCD driver IC COG orders as the company is seeing its LCD driver ICs for small- and medium-size panels persistently expanding.
While the orders for LCD driver ICs are still uncertain, both parties have already entered into the price negotiation and capacity booking stage for the memory packaging orders, the sources said. If ChipMOS succeeds in its bid for orders it will become the first memory backend production subcontractor for Samsung.
fyi: updated IMOS presentation!
together with the Samsung rumor, IMOS is back on my watchlist ;)
part 2 ;)
another lawsuit:
ChipMOS FILES PATENT INFRINGEMENT SUIT AGAINST WALTON CHAINTECH CORPORATION
Wednesday, September 12, 2007 08:00ET
HSINCHU, Taiwan, Sept. 12 /Xinhua-PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. (''ChipMOS'' or the ''Company'') (Nasdaq: IMOS) announced today that its 99.14% owned subsidiary, ChipMOS TECHNOLOGIES INC. (''ChipMOS Taiwan'') filed a lawsuit on September 12, 2007 Taiwan time in Taiwan Banciao District Court against Walton Chaintech Corporation (''Walton Chaintech''), alleging infringement by Walton Chaintech of two of ChipMOS Taiwan's BGA (Ball Grid Array) package related patents which are used for DDR II SDRAM devices.
ChipMOS Taiwan obtained from the retail market several ''APOGEE'' branded memory modules manufactured by Walton Chaintech and sent them to a professional appraisal institution for investigation. ChipMOS Taiwan decided to file the litigation based upon the investigating report of this professional appraisal institution, which concluded that the package device employed on the aforementioned modules infringed ChipMOS Taiwan R.O.C. patent no. 207627 ''Substrate on Chip Packaging Process'' and patent no. 207525 ''Substrate on Chip Packaging Process''.
ChipMOS highly values intellectual property and recognizes its responsibility to protect its patents and the benefits of its shareholders, and to seek a fair return on its efforts in R&D activities. ChipMOS Taiwan decided to file the patent infringement lawsuit against Walton Chaintech, seeking NT$15 million in monetary damages at the initial stage for the losses ChipMOS Taiwan suffered as well as a court order prohibiting Walton Chaintech from using the allegedly infringing technology.
ChipMos Technologies "overweight," target price reduced - update
Wednesday, October 10, 2007 1:44:59 PM ET
Lehman Brothers
NEW YORK, October 10 (newratings.com) - Analyst Dave Egan of Lehman Brothers maintains his "overweight" rating on ChipMos Technologies Inc (CHY.FSE), while reducing his estimates for the company. The target price has been reduced from $9 to $8.
In a research note published this morning, the analyst mentions that the company's FCF generation is likely to be driven by controlled capex spending and continued top-line growth. ChipMos Technologies' share price could come under pressure in the near term on account of negative DRAM sentiment and the company's leading shareholder expressing an intention to sell shares, the analyst says. The EPS estimates for 2007 and 2008 have been reduced from $0.87 to $0.82 and from $1.45 to $1.05, respectively.
update