Intrinsic value of ChipMOS Technologies ADR - IMOS

Previous Close

$17.39

  Intrinsic Value

$21.26

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  Rating & Target

buy

+22%

Previous close

$17.39

 
Intrinsic value

$21.26

 
Up/down potential

+22%

 
Rating

buy

We calculate the intrinsic value of IMOS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  616
  630
  646
  664
  685
  707
  731
  757
  785
  815
  847
  882
  918
  957
  998
  1,042
  1,088
  1,137
  1,189
  1,244
  1,301
  1,362
  1,426
  1,494
  1,565
  1,640
  1,719
  1,802
  1,889
  1,981
Variable operating expenses, $m
  352
  360
  369
  379
  391
  403
  417
  432
  448
  465
  484
  503
  524
  546
  570
  595
  621
  649
  679
  710
  743
  778
  814
  853
  894
  936
  981
  1,029
  1,078
  1,131
Fixed operating expenses, $m
  188
  192
  196
  201
  205
  210
  214
  219
  224
  229
  234
  239
  244
  250
  255
  261
  266
  272
  278
  284
  291
  297
  304
  310
  317
  324
  331
  338
  346
  353
Total operating expenses, $m
  540
  552
  565
  580
  596
  613
  631
  651
  672
  694
  718
  742
  768
  796
  825
  856
  887
  921
  957
  994
  1,034
  1,075
  1,118
  1,163
  1,211
  1,260
  1,312
  1,367
  1,424
  1,484
Operating income, $m
  76
  78
  81
  84
  89
  93
  99
  106
  113
  121
  130
  139
  150
  161
  173
  186
  201
  216
  232
  249
  268
  287
  308
  331
  354
  379
  406
  434
  464
  496
EBITDA, $m
  163
  167
  172
  178
  185
  193
  203
  213
  224
  236
  249
  264
  280
  296
  314
  334
  354
  377
  400
  425
  452
  480
  510
  542
  576
  611
  649
  689
  731
  776
Interest expense (income), $m
  5
  13
  13
  14
  15
  15
  16
  17
  19
  20
  21
  23
  24
  26
  27
  29
  31
  33
  35
  38
  40
  43
  45
  48
  51
  54
  58
  61
  65
  69
  73
Earnings before tax, $m
  64
  65
  67
  70
  73
  77
  82
  87
  93
  100
  107
  115
  124
  134
  144
  155
  167
  180
  194
  209
  225
  242
  260
  279
  300
  322
  345
  370
  396
  423
Tax expense, $m
  17
  18
  18
  19
  20
  21
  22
  24
  25
  27
  29
  31
  34
  36
  39
  42
  45
  49
  52
  56
  61
  65
  70
  75
  81
  87
  93
  100
  107
  114
Net income, $m
  46
  47
  49
  51
  53
  56
  60
  64
  68
  73
  78
  84
  91
  98
  105
  113
  122
  132
  142
  153
  164
  177
  190
  204
  219
  235
  252
  270
  289
  309

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  758
  776
  796
  818
  843
  870
  900
  932
  966
  1,004
  1,043
  1,086
  1,131
  1,179
  1,229
  1,283
  1,340
  1,401
  1,464
  1,532
  1,603
  1,678
  1,756
  1,840
  1,927
  2,019
  2,116
  2,219
  2,326
  2,439
Adjusted assets (=assets-cash), $m
  758
  776
  796
  818
  843
  870
  900
  932
  966
  1,004
  1,043
  1,086
  1,131
  1,179
  1,229
  1,283
  1,340
  1,401
  1,464
  1,532
  1,603
  1,678
  1,756
  1,840
  1,927
  2,019
  2,116
  2,219
  2,326
  2,439
Revenue / Adjusted assets
  0.813
  0.812
  0.812
  0.812
  0.813
  0.813
  0.812
  0.812
  0.813
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
  0.812
Average production assets, $m
  435
  445
  457
  470
  484
  500
  517
  535
  555
  576
  599
  623
  649
  677
  706
  737
  769
  804
  841
  879
  920
  963
  1,008
  1,056
  1,106
  1,159
  1,215
  1,274
  1,335
  1,400
Working capital, $m
  71
  72
  74
  76
  79
  81
  84
  87
  90
  94
  97
  101
  106
  110
  115
  120
  125
  131
  137
  143
  150
  157
  164
  172
  180
  189
  198
  207
  217
  228
Total debt, $m
  244
  256
  270
  286
  303
  323
  344
  366
  391
  417
  445
  475
  507
  540
  576
  614
  655
  697
  742
  790
  840
  893
  948
  1,007
  1,069
  1,134
  1,203
  1,275
  1,351
  1,430
Total liabilities, $m
  535
  548
  562
  578
  595
  614
  635
  658
  682
  709
  737
  766
  798
  832
  868
  906
  946
  989
  1,034
  1,081
  1,131
  1,184
  1,240
  1,299
  1,361
  1,426
  1,494
  1,566
  1,642
  1,722
Total equity, $m
  223
  228
  234
  241
  248
  256
  265
  274
  284
  295
  307
  319
  332
  347
  361
  377
  394
  412
  431
  450
  471
  493
  516
  541
  567
  594
  622
  652
  684
  717
Total liabilities and equity, $m
  758
  776
  796
  819
  843
  870
  900
  932
  966
  1,004
  1,044
  1,085
  1,130
  1,179
  1,229
  1,283
  1,340
  1,401
  1,465
  1,531
  1,602
  1,677
  1,756
  1,840
  1,928
  2,020
  2,116
  2,218
  2,326
  2,439
Debt-to-equity ratio
  1.090
  1.120
  1.150
  1.190
  1.220
  1.260
  1.300
  1.340
  1.370
  1.410
  1.450
  1.490
  1.520
  1.560
  1.590
  1.630
  1.660
  1.690
  1.720
  1.750
  1.780
  1.810
  1.840
  1.860
  1.890
  1.910
  1.930
  1.950
  1.970
  1.990
Adjusted equity ratio
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  46
  47
  49
  51
  53
  56
  60
  64
  68
  73
  78
  84
  91
  98
  105
  113
  122
  132
  142
  153
  164
  177
  190
  204
  219
  235
  252
  270
  289
  309
Depreciation, amort., depletion, $m
  87
  89
  91
  94
  97
  100
  103
  107
  111
  115
  120
  125
  130
  135
  141
  147
  154
  161
  168
  176
  184
  193
  202
  211
  221
  232
  243
  255
  267
  280
Funds from operations, $m
  133
  136
  140
  145
  150
  156
  163
  171
  179
  188
  198
  209
  220
  233
  246
  261
  276
  292
  310
  329
  348
  369
  392
  415
  440
  467
  495
  524
  556
  589
Change in working capital, $m
  1
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  10
  11
Cash from operations, $m
  132
  135
  138
  143
  148
  154
  160
  168
  176
  185
  194
  205
  216
  228
  242
  256
  271
  287
  304
  322
  342
  362
  384
  407
  432
  458
  486
  515
  546
  578
Maintenance CAPEX, $m
  -85
  -87
  -89
  -91
  -94
  -97
  -100
  -103
  -107
  -111
  -115
  -120
  -125
  -130
  -135
  -141
  -147
  -154
  -161
  -168
  -176
  -184
  -193
  -202
  -211
  -221
  -232
  -243
  -255
  -267
New CAPEX, $m
  -8
  -10
  -11
  -13
  -14
  -16
  -17
  -18
  -20
  -21
  -23
  -24
  -26
  -28
  -29
  -31
  -33
  -35
  -37
  -39
  -41
  -43
  -45
  -48
  -50
  -53
  -56
  -59
  -62
  -65
Cash from investing activities, $m
  -93
  -97
  -100
  -104
  -108
  -113
  -117
  -121
  -127
  -132
  -138
  -144
  -151
  -158
  -164
  -172
  -180
  -189
  -198
  -207
  -217
  -227
  -238
  -250
  -261
  -274
  -288
  -302
  -317
  -332
Free cash flow, $m
  38
  38
  38
  39
  40
  41
  43
  46
  49
  52
  56
  61
  66
  71
  77
  84
  91
  98
  107
  115
  125
  135
  146
  158
  171
  184
  198
  213
  229
  247
Issuance/(repayment) of debt, $m
  10
  12
  14
  16
  18
  19
  21
  23
  24
  26
  28
  30
  32
  34
  36
  38
  40
  43
  45
  48
  50
  53
  56
  59
  62
  65
  69
  72
  76
  80
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  10
  12
  14
  16
  18
  19
  21
  23
  24
  26
  28
  30
  32
  34
  36
  38
  40
  43
  45
  48
  50
  53
  56
  59
  62
  65
  69
  72
  76
  80
Total cash flow (excl. dividends), $m
  49
  50
  52
  54
  57
  60
  64
  68
  73
  79
  84
  91
  97
  105
  113
  122
  131
  141
  152
  163
  175
  188
  202
  217
  232
  249
  267
  285
  305
  326
Retained Cash Flow (-), $m
  -5
  -5
  -6
  -7
  -7
  -8
  -9
  -9
  -10
  -11
  -12
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -26
  -27
  -29
  -30
  -32
  -33
Prev. year cash balance distribution, $m
  174
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  218
  45
  46
  48
  50
  52
  56
  59
  63
  68
  73
  78
  84
  91
  98
  106
  114
  123
  133
  143
  154
  166
  179
  192
  207
  222
  238
  255
  274
  293
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  209
  41
  40
  39
  39
  38
  38
  37
  36
  35
  34
  33
  32
  30
  29
  27
  25
  23
  20
  18
  16
  14
  12
  10
  8
  6
  5
  4
  3
  2
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
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  100.0

ChipMOS TECHNOLOGIES INC is a Taiwan-based company principally engaged in the integrated circuits packaging and testing business. The Company mainly provides thin small outline packaging (TSOP), fine-pitch ball grid array (FBGA) packaging, tape carrier packaging (TCP) and chip on film (COF) packaging services, as well as gold bumping services, among others. The Company’s products and services are used in information products, personal computers, communications equipment, office automation and consumer electronics. It mainly operates its business within domestic market, and in overseas markets, including the rest of Asia and the Americas.

FINANCIAL RATIOS  of  ChipMOS Technologies ADR (IMOS)

Valuation Ratios
P/E Ratio 304.1
Price to Sales 25.2
Price to Book 28.5
Price to Tangible Book
Price to Cash Flow 130.7
Price to Free Cash Flow -496.7
Growth Rates
Sales Growth Rate -2.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 1.4%
Cap. Spend. - 3 Yr. Gr. Rate 6.5%
Financial Strength
Quick Ratio 7
Current Ratio 0.7
LT Debt to Equity 59.7%
Total Debt to Equity 66.3%
Interest Coverage 12
Management Effectiveness
Return On Assets 5.1%
Ret/ On Assets - 3 Yr. Avg. 7.5%
Return On Total Capital 5.7%
Ret/ On T. Cap. - 3 Yr. Avg. 9.2%
Return On Equity 8.6%
Return On Equity - 3 Yr. Avg. 13.5%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 19.8%
Gross Margin - 3 Yr. Avg. 21.8%
EBITDA Margin 27.7%
EBITDA Margin - 3 Yr. Avg. 31.6%
Operating Margin 10.8%
Oper. Margin - 3 Yr. Avg. 14%
Pre-Tax Margin 9.3%
Pre-Tax Margin - 3 Yr. Avg. 15.4%
Net Profit Margin 8.3%
Net Profit Margin - 3 Yr. Avg. 11.8%
Effective Tax Rate 21.8%
Eff/ Tax Rate - 3 Yr. Avg. 23.5%
Payout Ratio 118.4%

IMOS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IMOS stock intrinsic value calculation we used $603.767692728 million for the last fiscal year's total revenue generated by ChipMOS Technologies ADR. The default revenue input number comes from 0001 income statement of ChipMOS Technologies ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our IMOS stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for IMOS is calculated based on our internal credit rating of ChipMOS Technologies ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of ChipMOS Technologies ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of IMOS stock the variable cost ratio is equal to 57.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $184 million in the base year in the intrinsic value calculation for IMOS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for ChipMOS Technologies ADR.

Corporate tax rate of 27% is the nominal tax rate for ChipMOS Technologies ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the IMOS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for IMOS are equal to 70.7%.

Life of production assets of 4.7 years is the average useful life of capital assets used in ChipMOS Technologies ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for IMOS is equal to 11.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $392.866085265 million for ChipMOS Technologies ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 42.795 million for ChipMOS Technologies ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of ChipMOS Technologies ADR at the current share price and the inputted number of shares is $0.7 billion.

RELATED COMPANIES Price Int.Val. Rating
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UMC United Microel 1.64 11.97  str.buy
HIMX Himax Technolo 4.09 0.79  str.sell

COMPANY NEWS

▶ UPDATE: ChipMOS SUBMITS CAPITAL REDUCTION TO NASDAQ   [Oct-12-18 06:00AM  PR Newswire]
▶ ChipMOS REPORTS SEPTEMBER 2018 AND 3Q18 REVENUE   [Oct-09-18 06:05AM  PR Newswire]
▶ ChipMOS REPORTS AUGUST 2018 REVENUE   [Sep-10-18 06:50AM  PR Newswire]
▶ Chipmos: 2Q Earnings Snapshot   [05:05AM  Associated Press]
▶ ChipMOS REPORTS JULY 2018 REVENUE   [04:05AM  PR Newswire]
▶ ChipMOS REPORTS JUNE 2018 AND 2Q18 REVENUE   [Jul-10-18 06:00AM  PR Newswire]
▶ ChipMOS to Present at 2018 Yuanta Asia Investment Forum   [Jun-11-18 06:00AM  PR Newswire]
▶ ChipMOS REPORTS MAY 2018 REVENUE   [Jun-08-18 06:00AM  PR Newswire]
▶ ChipMOS to Present at 2018 Q2 Fubon Investment Forum   [May-21-18 06:00AM  PR Newswire]
▶ ALERT: ChipMOS SECURES NT$12.0 BILLION CREDIT FACILITY   [May-15-18 02:10AM  PR Newswire]
▶ Chipmos: 1Q Earnings Snapshot   [May-10-18 05:06AM  Associated Press]
▶ ChipMOS REPORTS APRIL 2018 REVENUE   [01:35AM  PR Newswire]
▶ ChipMOS REPORTS MARCH 2018 AND 1Q18 REVENUE   [Apr-09-18 08:09AM  PR Newswire]
▶ Chipmos posts 4Q profit   [06:23AM  Associated Press]
▶ ChipMOS REPORTS FEBRUARY 2018 REVENUE   [Mar-09-18 06:30AM  PR Newswire]
▶ ChipMOS REPORTS JANUARY 2018 REVENUE   [Feb-09-18 06:30AM  PR Newswire]
▶ ChipMOS REPORTS DECEMBER 2017 AND 4Q17 REVENUE   [Jan-09-18 06:30AM  PR Newswire]
▶ ChipMOS REPORTS NOVEMBER 2017 REVENUE   [01:30AM  PR Newswire]
▶ Chipmos posts 3Q profit   [Nov-09-17 05:01AM  Associated Press]
▶ ChipMOS REPORTS OCTOBER 2017 REVENUE   [01:30AM  PR Newswire]
▶ ChipMOS REPORTS SEPTEMBER 2017 AND 3Q17 REVENUE   [Oct-06-17 06:00AM  PR Newswire]
▶ ChipMOS REPORTS AUGUST 2017 REVENUE   [Sep-08-17 06:00AM  PR Newswire]
▶ Chipmos posts 2Q profit   [Aug-10-17 08:02PM  Associated Press]
▶ ChipMOS REPORTS JULY 2017 REVENUE   [02:30AM  PR Newswire]
▶ ChipMOS REPORTS JUNE 2017 AND 2Q17 REVENUE   [Jul-10-17 06:00AM  PR Newswire]
▶ ChipMOS REPORTS MAY 2017 REVENUE   [06:00AM  PR Newswire]
▶ ChipMOS REPORTS FIRST QUARTER 2017 RESULTS   [May-11-17 02:00AM  PR Newswire]
▶ ChipMOS REPORTS APRIL 2017 REVENUE   [May-10-17 06:00AM  PR Newswire]
▶ ChipMOS REPORTS MARCH 2017 AND 1Q17 REVENUE   [Apr-10-17 06:00AM  PR Newswire]
▶ Chipmos posts 4Q profit   [Mar-09-17 05:20AM  Associated Press]
▶ ChipMOS REPORTS FEBRUARY 2017 REVENUE   [01:30AM  PR Newswire]
▶ ChipMOS REPORTS JANUARY 2017 REVENUE   [Feb-10-17 06:00AM  PR Newswire]
▶ ChipMOS REPORTS NOVEMBER 2016 REVENUE   [06:00AM  PR Newswire]
▶ 5 Micro-cap Stocks Billionaires Love The Most   [Nov-30-16 09:45PM  at Insider Monkey]
▶ UPDATE: ChipMOS MERGER EXPECTED TO CLOSE OCTOBER 31   [Oct-20-16 06:00AM  PR Newswire]
▶ ChipMOS REPORTS SEPTEMBER 2016 AND 3Q16 REVENUE   [Oct-07-16 06:00AM  PR Newswire]

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