Valuable Insights
Long/short equity, special situations, value, tech

ChipMOS: Catalysts Plus Excess Capital Should Drive 50% Upside

(Editors' Note: ChipMOS reports earnings on Wednesday, May 14, before the market opens).

There are times as an investor when one feels they are living in the film Groundhog Day. Such has been our experience with ChipMOS (NASDAQ:IMOS), which we have written about multiple times over the last several years. Seemingly, on an annual basis, shares pull-back, creating a compelling entry point. The 14% sell-off from recent highs, coupled with a rise in shares of ChipMOS Taiwan (8150.TW) has created such an opportunity. At current levels, we believe shares offer a compelling risk/reward profile and also offer near-term catalysts, starting with earnings on Wednesday. ChipMOS shares are cheap on a relative and absolute basis (double-digit...

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