NASDAQ:SPIL
$6.20
(2/9 2:56PM)
+1.1%
| Open | $6.19 |
Mkt Cap | $3.9 Billion |
| High | $6.33 |
52Wk High | $8.19 |
| Low | $6.16 |
52Wk Low | $4.18 |
| Volume | 2.2 Million |
Avg Vol 10D | 3.4 Million |
Ockham's Rating/Recommendation Summary
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SPIL Revenue
For a long time, value investors have used the current share price relative to sales per share levels as an important valuation tool. We utilize a historical weighted average methodology that treats recent years more importantly in the calculation. When looking at SPIL through this framework, we can see that our weighted average historical high and low Price to Sales per share ratios over the last 10 years are 2.98x and 1.36x respectively.
Utilizing this range we can see that SPIL’s current Price to Sales per share ratio of 2.09x is slightly under its historical average. This level of Price to Sales gives us a fairly neutral position on the SPIL shares. We would like to see a drop in the Price to Sales ratio just a little bit more (given current sales figures) before we would become more positive on a Price to Sales basis. Such a drop would increase the attractiveness of the stock but, as always, would need to be considered in the context of all other valuation factors.
SPIL Cash Earnings
As a value investment framework, Ockham Research is similar to a private equity firm in terms of our valuation methods. We are always on the lookout for value in the form of sales and cash numbers. In the case of SPIL, Ockham views their current Cash Earnings as significantly above its historical average multiple of Cash Earnings. Looking at the last 10 years we can get a good understanding of what investors have grown to expect from SPIL. For example, SPIL's Cash Earnings ratio per share has fluctuated between 5.06 and 11.38 over this historical timeframe. This range is based upon a proprietary weighted methodology at Ockham, but can clearly show an investor where SPIL is with respect to prior business periods.
Just recall that when a stock's price, as in the cases of SPIL, is significantly elevated to the level of Cash Earnings being generated, the market has already priced in much of that value. For example, the historical average for SPIL's Price to Cash Earnings ratio is 18% below the current ratio of 9.72. That is not an insignificant amount, and diminishes our overall outlook on SPIL. However, you need to review several areas of a company's potential, and as management would point out, one metric is not the end-all-be-all of any analysis.
SPIL Dividends
A positive Ockham rating does not require a company to pay out an inviting dividend or a dividend at all. However, we believe dividends provide a useful measure of a company's inherent expectations.
The estimated annual dividend for SPIL is $0.20 producing a current dividend yield of 3.37%. Much like our evaluation of Sales and Cash Earnings per share, we review dividend yields from SPIL against the historic high and low levels over all available dividend history. Because dividends are a decision made exclusively by management, we view a healthy and rising dividend as a sign of confidence and strength. The highest dividend yield from SPIL over previous years was 22.68% while the lowest dividend yield was 0.00%. While it is quite common for a growth stock to pay no dividend at all, but for a mature company such as SPIL that has a history of paying dividends it is disappointing to see their dividend yield drop so significantly. At this time, the current dividend yield is 70.28% below the median yield.
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Mad Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
Remember spill? Which beat the street's consensus by a penny and issued guidance that wowed the analysts when it reported earnings later the same way. I speculated in SPIL on april it's up over 18% since then. Irresponsible about making some money quickly in these small, admittedly risky stocks?
“… in these small, admittedly risky stocks? …”
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Fast Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
Tomorrow. Guys, let's do a play for the other semiconductors. Especially since intel is saying there's a bottom in pc sales. >> that's what I was going to again, it's the reasonably tsm, taiwan semi, and SPIL, silicon, these are names where you're getting industry leaders that are not that badly priced coming out of taiwan. >> time now to trade tomorrow. Your playbook for the rest of trade number one here, take a
“… industry leaders that are not that badly priced coming out of taiwan. >> time now to trade tomorrow. Your playbook for the rest of trade number one here, take a …”
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Mad Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
Lender so we see a little national city bought by pnc. Nuance, speech rectition, SPIL technology company speculative and cisco, and coca-cola, good stock, a little defensive, a beverage company, a bank and three techs. No, no, no, no, no. >> sell, sell, sell. >> we'll sell nuance, SPIL we'll keep as a pure spec. Let's -- no, let's add an industrial for heaven sake. Give me an industrial and I think you're in good shape.
“… ell. >> we'll sell nuance, SPIL we'll keep as a pure spec. Let's -- no, let's add an industrial for heaven sake. Give me an industrial and I think you're in good shape. …”
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Mad Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
About a speculative stock on monday other than the fact that the digitimes story came out when i'm almost always making here's the bottom line. The semiconductor recovery is I think SILICONWARE PRECISION INDUSTRIES, SPIL, with its juicy 8.5% yield is a terrific speculative way to plate recovery. >> announcer: coming up -- bad news for the banking sector.
“… rrific speculative way to plate recovery. >> announcer: coming up -- bad news for the banking sector. …”
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Mad Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
To 60% in march. I know still less but it's okay. The recovery was really not anticipated by anyone. Including the companies. And that's precisely what makes SPIL and the other companies involved in the semiconductor food chain so attractive right in order to deal with the slowdown in business SPIL had taken a bunch of actions to cut costs, and these are moves that should really pay off now that we're seeing a recovery in the semis. SPIL eliminated overtime pay. That should save roughly 180 million new taiwan dollars per that's on top of the head count reduction that the company put through in the fourth quarter. SPIL has also shut down unused production costs to minimize fixed costs. It's done everything right. Now it's a leaner, meaner company that can package and test more chips for less money. Then there's the dividend. Got to love big dividends. SPIL intends to pay out a massive dividend this year, bring the yield to 8.5%, a payoff I think is marathon man-like as in it will only eade up about a third of the cash the company has on hand. You just don't get that kind of
“… r to deal with the slowdown in business SPIL had taken a bunch of actions to cut costs, and these are moves that should really pay off now that we're seeing a recovery in the semis. SPIL eliminated overtime pay. That should save roughly 180 million new taiwan dollars per that's on top of the head count reduction that the company put through in the fourth quarter. SPIL has also shut down unused production costs to minimize fixed costs. It's done everything right. Now it's a leaner, meaner company that can package and test more chips for less money. Then there's the dividend. Got to love big dividends. SPIL intends to pay out a massive dividend this year, bring the yield to 8.5%, a payoff I think is marathon man-like as in it will only eade up about a third of the cash the company has on hand. You just don't get that kind of …”
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Mad Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
They've got to start somewhere. This is what they do. The numbers here are truly better than expected. Unlike many other stocks that are simply going higher because the street has become more bullish about the market. SPIL's accumulated first quarter sales are now expected to fall. They're still going to fall 26% but that's much better than the previous expectations of a 35% >> instead of zblsh the house of pain. >> and the second quarter analysts think that SPIL sales could grow by 15% to 20% thanks to resumed orders for everything from handset chips, you know, semiconductors that go into cell phones, to graphics processors
“… s are now expected to fall. They're still going to fall 26% but that's much better than the previous expectations of a 35% >> instead of zblsh the house of pain. >> and the second quarter analysts think that SPIL sales could grow by 15% to 20% thanks to resumed orders for everything from handset chips, you know, semiconductors that go into cell phones, to graphics processors …”
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Mad Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
Not reading "digitimes." they're too busy reading "the they should be reading where does the company fit into the tech food chain? SPIL provides packaging, assembly, and test services to 100 customers worldwide. Many of which names you know. Intel, broadcom, amd, nvidia, sandisk, marvell tech, and exile semiconductors are very small, very sensitive pieces of machinery, and you need a company like SPIL to make sure they're put together the right way. To test them. Lots of semiconductors -- i've been to a lot of factories. Many of them don't work. You've got to test everything, got to make sure they work after being built and to package them so they don't get damaged by the think SPIL. And now that we're seeing a recovery in the semis and it's real I think SPIL's poised to benefit. Many companies have indicated december was their worst month and like taiwan semi they've been receiving rush orders since february. The gadget retailers were very bearish, right? So they cut back so heavily on
“… om, amd, nvidia, sandisk, marvell tech, and exile semiconductors are very small, very sensitive pieces of machinery, and you need a company like SPIL to make sure they're put together the right way. To test them. Lots of semiconductors -- i've been to a lot of factories. Many of them don't work. You've got to test everything, got to make sure they work after being built and to package them so they don't get damaged by the think SPIL. And now that we're seeing a recovery in the semis and it's real I think SPIL's poised to benefit. Many companies have indicated december was their worst month and like taiwan semi they've been receiving rush orders since february. The gadget retailers were very bearish, right? So they cut back so heavily on …”
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Mad Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
Just this morning digitimes -- hey, you've got to start reading the trade papers. That's the trade paper for chinese and taiwanese technology companies. Reported that SPIL announced a 28.9% increase in revenues in march, which is why I couldn't hold this story any longer. This news came out, and no one seemed to care because they're
“… story any longer. This news came out, and no one seemed to care because they're …”
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares (SPIL) Discussed on CNBC's Mad Money
Siliconware Precision Industries Co Limited -Shs Sponsored ADR Repr 5 Shares is in the news. Find out how this impacts SPIL trading on Ockham Research.
Non-redheaded stepchild. The stock is -- sill wovrware precision industries. There's a mouthful. Why don't we just call it SPIL? S-p-i-l. $6 and change. I told thank you was speculative. It's a taiwanese semiconductor name with an astorn being 8.5%
“… Non-redheaded stepchild. The stock is -- sill wovrware precision industries. There's a mouthful. Why don't we just call it SPIL? S-p-i-l. $6 and change. I told thank you was speculative. It's a taiwanese semiconductor name with an astorn being 8.5% …”