Boston, MA 03/13/2014 (wallstreetpr) – Siliconware Precision Industries (ADR) (NASDAQ:SPIL) shares were up more than 3 percent to $6.71 in the last session. The heavy volume trading day saw the shares changing hands between $6.58 on the lower-end and $6.71 on the higher-end, thus setting a new 52-week high point at $6.71.
The company is involved in testing and packaging services of integrated circuits. The $4.18 billion market capped company recently issued its month-on-month sales revenue data which showed that its sales figures decline in February compared with January. While monthly sales reports offer continuing performance tracking for investors, the poor sales data that came in for the month of February didn’t damp the hopes that investors have in the stock and by extension the industry.
February sales performance
Siliconware Precision Industries (ADR) (NASDAQ:SPIL) announced consolidated sales revenue NT$5,574 million for the month of February, representing a decline of 7.5 percent from the figures realized in January, on sequential basis. The year-over-year sales revenue was however up 31.1 percent in February. And in the past two months of 2014, consolidated sales revenue totals to NT$11.6 billion, which represent 31 percent increase over the same duration a year ago. Thus, indicating that fiscal 2014 has started on positive note for the company.
The decline in sales revenue for the month of February shouldn’t come as a surprise. Traditionally the first quarter is characterized with low sales. Moreover the Lunar New Year that trimmed work days also had its impact on February sales.
Investor Optimism
Siliconware Precision Industries (ADR) (NASDAQ:SPIL) remains attractive for investors because of its prospects. The company looks poised to benefit from the predicted boom in the semiconductor industry. Experts expect increase in foundry manufacturing and the increasing demand for low cost smartphones is also going to increase business opportunities for Siliconware Precision Industries (ADR) (NASDAQ:SPIL) this year going forward.
Bottom line
Siliconware Precision Industries (ADR) (NASDAQ:SPIL) has a lot of positive developments around currently and more to come. But it is still a good idea for investor to keep a close tab on this ticker for possible short-term corrections.
