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Chipmos Technologies Ltd (IMOS)
NASDAQ:IMOS
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ChipMOS Technologies
(NASDAQ:IMOS)
Rating:63Neutral
Price Target:
$18.50
▲(5.71% Upside)
ChipMOS Technologies (IMOS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$633.28M
Dividend Yield4.7%
Average Volume (3M)20.40K
Price to Earnings (P/E)131.1
Beta (1Y)0.91
Revenue Growth0.15%
EPS Growth-92.08%
CountryUS
Employees5,688
SectorTechnology
Sector Strength82
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.50
Shares Outstanding35,862,007
10 Day Avg. Volume19,942
30 Day Avg. Volume20,403
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.11
Enterprise Value/Revenue0.03
Enterprise Value/Gross Profit0.26
Enterprise Value/Ebitda0.12
Forecast
1Y Price Target
$18.50Price Target Upside5.71% Upside
Rating ConsensusHold
Number of Analyst Covering0
ChipMOS Technologies Business Overview & Revenue Model
Company DescriptionChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in Taiwan, People's Republic of China, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and other Display Panel Driver Semiconductors; Bumping; and Other segments. The company provides a range of back-end assembly and testing services, including engineering test, wafer probing, and final test of memory and logic/mixed-signal semiconductors, as well as leadframe-based and organic substrate-based package assembly services for memory and logic/mixed-signal semiconductors; and gold bumping, reel to reel assembly, and test services for LCD and other panel display driver semiconductors. Its semiconductors are used in personal computers; graphics applications, such as game consoles; communications equipment; mobile products comprising cellular handsets, tablets, and consumer electronic products; and automotive/industry and display applications, such as display panels. The company was incorporated in 1997 and is headquartered in Hsinchu, Taiwan.
How the Company Makes MoneyChipMOS Technologies generates revenue primarily through its semiconductor assembly and testing services. The company's business model is centered around providing high-quality, customized solutions that meet the specific needs of its customers in the semiconductor industry. Key revenue streams include fees for wafer probing, assembly of semiconductor devices, and final testing services. Additionally, the company benefits from long-term contracts with major semiconductor manufacturers, which provide a stable source of income. ChipMOS also engages in partnerships with technology firms to develop innovative packaging solutions, enhancing its service offerings and driving further revenue growth. Factors contributing to its earnings include the increasing demand for advanced semiconductor technologies, the growth of the consumer electronics market, and the company's capability to adapt to evolving industry trends.
ChipMOS Technologies Earnings Call Summary
Earnings Call Date:Aug 12, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Feb 19, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted strong growth in memory products and a positive outlook for the second half of the year. However, the company faced challenges with declining gross margins, net losses due to foreign exchange, and reduced revenue in DDIC products.Q2-2025 Updates
Positive Updates
Revenue Growth
Q2 revenue increased by 3.7% compared to Q1 and was driven by strong demand in memory products.
Memory Product Performance
Memory product revenue increased by 21.2% compared to Q1 and 17.6% year-over-year, with DRAM and Flash showing significant growth.
Positive Outlook for Memory Products
Strong demand from data center and communications, AI-enhanced products, and expected memory momentum are anticipated to benefit business in the second half of the year.
Negative Updates
Gross Margin Decline
Q2 gross margin was 6.6%, a decrease of 280 basis points from Q1 and 7.4 percentage points from Q2 2024, due to lower DDIC test ASP and increased costs.
Net Losses
Net losses in Q2 were TWD 0.75 per share due to a higher foreign exchange loss of approximately TWD 0.97 per share.
Decrease in DDIC Revenue
Driver IC and Gold Bump revenue decreased by 9.4% compared to Q1 and 17.9% year-over-year, with specific downturns in the automotive and OLED segments.
Foreign Exchange and Cost Challenges
Significant foreign exchange losses and increased electricity charges negatively impacted operating results.
Company Guidance
During the ChipMOS Second Quarter 2025 Results Conference Call, guidance provided by Chairman S.J. Cheng highlighted several key metrics and strategic directions for the company. The second quarter saw a 3.7% increase in revenue compared to the first quarter, amounting to TWD 5,736 million, despite a net loss of TWD 0.75 per share driven by a foreign exchange loss of approximately TWD 0.97 per share. Gross margin was recorded at 6.6%, a decrease of 280 basis points from the previous quarter. The company's utilization rates improved, with overall utilization at 65%, assembly at 64%, and memory testing at 67%. Memory products drove 45.3% of Q2 revenue, with a significant 21.2% increase compared to Q1. For Q3, the company anticipates robust demand in memory products, with expected price increases in OSAT between 5% to 18% to counter material cost rises. Although challenges persist, including DDIC ASP cuts and electricity cost increases, ChipMOS remains focused on enhancing shareholder value through prudent capital expenditure, with a strategic emphasis on high-growth, high-margin product areas.ChipMOS Technologies Financial Statement Overview
Summary
ChipMOS Technologies shows stable financial performance with solid revenue growth and strong cash generation. However, challenges in maintaining profit margins and asset efficiency are evident, necessitating improved operational efficiencies and cost management.Income Statement
ChipMOS Technologies demonstrates a solid revenue growth trajectory with a recent increase to 22,695.9 million. However, gross profit margins have declined from historical values, currently at 12.97%, indicating pressure on cost management. The net profit margin is at a moderate 6.26%, impacted by decreased net income. EBIT and EBITDA margins are also under pressure, reflecting operational challenges.75
Positive
Balance Sheet
The company's balance sheet shows a healthy equity position with a debt-to-equity ratio of 0.60, indicating moderate leverage. Return on Equity (ROE) is at 5.66%, highlighting average profitability relative to shareholder equity. The equity ratio is at a stable 55.24%, suggesting a strong asset base relative to liabilities, though improvements in asset utilization could enhance returns.68
Positive
Cash Flow
ChipMOS Technologies maintains a strong operating cash flow with a significant free cash flow, although it has seen a decline compared to the previous year. The operating cash flow to net income ratio suggests efficient cash generation from operations. However, careful management of capital expenditure is essential to ensure sustainable free cash flow levels.72
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.81B | 22.70B | 21.36B | 23.52B | 27.40B | 23.01B |
| Gross Profit | 2.69B | 2.94B | 3.55B | 4.91B | 7.25B | 5.03B |
| EBITDA | 5.78B | 6.78B | 6.41B | 8.92B | 10.79B | 7.31B |
| Net Income | 1.16B | 1.44B | 1.97B | 3.44B | 4.94B | 2.38B |
Balance Sheet | ||||||
| Total Assets | 43.21B | 45.38B | 46.16B | 44.94B | 42.52B | 35.08B |
| Cash, Cash Equivalents and Short-Term Investments | 13.68B | 15.33B | 12.44B | 10.12B | 6.30B | 4.37B |
| Total Debt | 14.52B | 15.16B | 15.98B | 14.89B | 11.00B | 8.61B |
| Total Liabilities | 18.27B | 20.38B | 21.31B | 20.30B | 18.14B | 14.36B |
| Stockholders Equity | 24.94B | 25.00B | 24.85B | 24.64B | 24.14B | 20.72B |
Cash Flow | ||||||
| Free Cash Flow | -212.20M | 859.43M | 3.53B | 3.92B | 1.44B | 1.98B |
| Operating Cash Flow | 5.33B | 5.94B | 6.61B | 8.62B | 7.32B | 5.94B |
| Investing Cash Flow | -958.96M | -615.11M | -3.09B | -5.06B | -6.02B | -3.80B |
| Financing Cash Flow | -3.00B | -2.48B | -1.06B | 416.89M | 494.44M | -2.72B |
ChipMOS Technologies Technical Analysis
Positive
17.50
Price Trends
17.27
Positive
17.38
Positive
17.78
Negative
Market Momentum
-0.19
Negative
59.00
Neutral
97.91
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMOS, the sentiment is Positive. The current price of 17.5 is above the 20-day moving average (MA) of 16.23, above the 50-day MA of 17.27, and below the 200-day MA of 17.78, indicating a neutral trend. The MACD of -0.19 indicates Negative momentum. The RSI at 59.00 is Neutral, neither overbought nor oversold. The STOCH value of 97.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IMOS.
ChipMOS Technologies Risk Analysis
ChipMOS Technologies disclosed 42 risk factors in its most recent earnings report. ChipMOS Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ChipMOS Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $6.09B | 20.11 | 7.37% | 2.99% | -1.20% | -19.46% | |
63 Neutral | $633.28M | 131.09 | 0.66% | 4.70% | 0.15% | -92.08% | |
62 Neutral | $1.44B | ― | -20.63% | ― | 9.79% | 10.28% | |
61 Neutral | $35.55B | 8.88 | -11.02% | 1.87% | 8.55% | -8.14% | |
56 Neutral | $949.50M | ― | -10.09% | ― | -21.27% | -207.30% | |
50 Neutral | $1.50B | ― | -50.93% | ― | 77.94% | -75.13% | |
46 Neutral | $579.45M | ― | -2.98% | ― | 15.45% | 49.82% |
* Technology Sector Average
Performance Comparison
IMOS
ChipMOS Technologies
17.50
-4.19
-19.32%
AMKR
Amkor
24.64
-3.18
-11.43%
COHU
Cohu
20.34
-3.01
-12.89%
AAOI
Applied Optoelectronics
23.99
10.97
84.25%
ICHR
Ichor Holdings
16.88
-10.33
-37.96%
LASR
nLIGHT
28.87
18.39
175.48%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.