Taiwan Semiconductor Manufacturing Company Ltd. (TSM) Stock Rating Upgraded by Zacks Investment Research

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, September 13th.

According to Zacks, “Taiwan Semiconductor Manufacturer Co is the world’s largest dedicated integrated circuit foundry. As a foundry, the Company manufactures ICs for its customers based on their proprietary IC designs using its advanced production processes. TSMC’s goal is to establish itself as one of the world’s leading semiconductor companies by building upon the strengths that have made it the leading IC foundry in the world. “

A number of other equities analysts have also commented on the stock. BidaskClub lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. HSBC Holdings plc downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.67.

Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) opened at 37.77 on Wednesday. The firm has a 50-day moving average of $36.77 and a 200 day moving average of $34.95. The firm has a market cap of $195.88 billion, a PE ratio of 16.90 and a beta of 0.76. Taiwan Semiconductor Manufacturing has a 52 week low of $28.34 and a 52 week high of $38.43.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings data on Thursday, July 13th. The semiconductor company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.08). Taiwan Semiconductor Manufacturing had a net margin of 36.11% and a return on equity of 25.61%. The firm had revenue of $213.86 billion during the quarter, compared to the consensus estimate of $214.25 billion. During the same quarter last year, the business posted $2.80 earnings per share. Taiwan Semiconductor Manufacturing’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts predict that Taiwan Semiconductor Manufacturing will post $2.15 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the business. Park National Corp OH raised its stake in shares of Taiwan Semiconductor Manufacturing by 0.3% during the second quarter. Park National Corp OH now owns 6,575 shares of the semiconductor company’s stock worth $230,000 after acquiring an additional 18 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 10,266 shares of the semiconductor company’s stock worth $359,000 after buying an additional 30 shares during the period. Mitchell Capital Management Co. increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.7% in the first quarter. Mitchell Capital Management Co. now owns 7,946 shares of the semiconductor company’s stock worth $261,000 after buying an additional 56 shares during the period. Wealthsource Partners LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 1.2% in the first quarter. Wealthsource Partners LLC now owns 8,641 shares of the semiconductor company’s stock worth $284,000 after buying an additional 101 shares during the period. Finally, Baldwin Investment Management LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 0.5% in the second quarter. Baldwin Investment Management LLC now owns 25,783 shares of the semiconductor company’s stock worth $901,000 after buying an additional 124 shares during the period. 19.38% of the stock is currently owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Company Profile

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a semiconductor foundry. The Company is engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. It operates through foundry segment.

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