Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) shares gapped up before the market opened on Tuesday . The stock had previously closed at $27.82, but opened at $27.86. Taiwan Semiconductor Manufacturing shares last traded at $28.23, with a volume of 4,091,314 shares traded.

A number of research firms have commented on TSM. Nomura cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 12th. JPMorgan Chase & Co. cut Taiwan Semiconductor Manufacturing from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 12th. Zacks Investment Research raised Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Friday, July 8th. Goldman Sachs Group Inc. lowered Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Finally, Daiwa Capital Markets raised Taiwan Semiconductor Manufacturing from a “neutral” rating to a “buy” rating in a research report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $24.33.

The firm has a market cap of $146.92 billion and a PE ratio of 16.71. The company’s 50-day moving average is $26.53 and its 200-day moving average is $24.66.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, July 14th. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.54 by $4.11. The business had revenue of $6.84 billion for the quarter. The business’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $3.08 EPS. On average, equities research analysts expect that Taiwan Semiconductor Manufacturing Co. will post $1.88 EPS for the current fiscal year.

The business also recently declared a dividend, which was paid on Thursday, July 21st. Shareholders of record on Wednesday, June 29th were paid a $0.744 dividend. The ex-dividend date of this dividend was Monday, June 27th.

Several hedge funds have bought and sold shares of TSM. Buckingham Capital Management Inc. increased its stake in Taiwan Semiconductor Manufacturing by 13.3% in the third quarter. Buckingham Capital Management Inc. now owns 50,053 shares of the company’s stock worth $1,039,000 after buying an additional 5,880 shares during the period. Mandatum Life Insurance Co Ltd acquired a new stake in Taiwan Semiconductor Manufacturing during the fourth quarter worth about $1,064,000. Brown Advisory Inc. increased its stake in Taiwan Semiconductor Manufacturing by 40.3% in the fourth quarter. Brown Advisory Inc. now owns 76,674 shares of the company’s stock worth $1,744,000 after buying an additional 22,016 shares during the period. Bailard Inc. increased its stake in Taiwan Semiconductor Manufacturing by 120.4% in the fourth quarter. Bailard Inc. now owns 100,000 shares of the company’s stock worth $2,275,000 after buying an additional 54,637 shares during the period. Finally, Sawtooth Asset Management Inc. increased its stake in Taiwan Semiconductor Manufacturing by 5,378.2% in the fourth quarter. Sawtooth Asset Management Inc. now owns 115,699 shares of the company’s stock worth $2,632,000 after buying an additional 113,587 shares during the period.

Taiwan Semiconductor Manufacturing Co, Ltd. (TSMC) is a Taiwan-based company principally engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits (ICs) and other semiconductor devices and the manufacturing of masks. The Company also offers a range of wafer fabrication processes, including processes to manufacture CMOS (complementary metal oxide silicon) logic, mixed-signal, radio frequency (RF), embedded memory, BiCMOS (bipolar complementary metal oxide silicon) mixed-signal and other semiconductors.

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