Taiwan Semiconductor Mfg. (TSM) Upgraded to “Hold” at Zacks Investment Research

Taiwan Semiconductor Mfg. (NYSE:TSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

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. “

Several other equities analysts also recently commented on the stock. Morgan Stanley raised shares of Taiwan Semiconductor Mfg. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 18th. Nomura raised shares of Taiwan Semiconductor Mfg. from a “neutral” rating to a “buy” rating in a report on Thursday, July 19th. Finally, ValuEngine downgraded shares of Taiwan Semiconductor Mfg. from a “buy” rating to a “hold” rating in a report on Saturday, August 18th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.00.

Shares of TSM traded down $0.49 during mid-day trading on Friday, reaching $38.21. The stock had a trading volume of 1,840,385 shares, compared to its average volume of 10,428,244. The firm has a market cap of $200.86 billion, a P/E ratio of 17.61, a PEG ratio of 1.18 and a beta of 1.16. Taiwan Semiconductor Mfg. has a 12 month low of $35.35 and a 12 month high of $46.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.07 and a quick ratio of 1.86.

Taiwan Semiconductor Mfg. (NYSE:TSM) last posted its quarterly earnings results on Thursday, October 18th. The semiconductor company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. The business had revenue of $260.35 billion during the quarter, compared to analyst estimates of $257.92 billion. Taiwan Semiconductor Mfg. had a net margin of 34.38% and a return on equity of 22.57%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.47 earnings per share. Equities analysts anticipate that Taiwan Semiconductor Mfg. will post 2.19 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in TSM. Renaissance Technologies LLC raised its stake in Taiwan Semiconductor Mfg. by 1,211.2% during the second quarter. Renaissance Technologies LLC now owns 3,855,920 shares of the semiconductor company’s stock valued at $140,972,000 after purchasing an additional 3,561,854 shares in the last quarter. Putnam Investments LLC raised its stake in Taiwan Semiconductor Mfg. by 2.1% during the second quarter. Putnam Investments LLC now owns 302,104 shares of the semiconductor company’s stock valued at $11,044,000 after purchasing an additional 6,070 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Taiwan Semiconductor Mfg. by 155.5% during the second quarter. Envestnet Asset Management Inc. now owns 829,082 shares of the semiconductor company’s stock valued at $30,311,000 after purchasing an additional 504,634 shares in the last quarter. WCM Investment Management CA raised its stake in Taiwan Semiconductor Mfg. by 5.1% during the second quarter. WCM Investment Management CA now owns 22,637,189 shares of the semiconductor company’s stock valued at $827,616,000 after purchasing an additional 1,092,330 shares in the last quarter. Finally, Aviance Capital Management LLC raised its stake in Taiwan Semiconductor Mfg. by 69,772.0% during the second quarter. Aviance Capital Management LLC now owns 17,468 shares of the semiconductor company’s stock valued at $639,000 after purchasing an additional 17,443 shares in the last quarter. 19.18% of the stock is currently owned by hedge funds and other institutional investors.

About Taiwan Semiconductor Mfg.

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices. The company manufactures masks and electronic spare parts; researches, develops, designs, manufactures, sells, packages, and tests color filters; and offers customer and engineering support services.

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