Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) shares gapped up prior to trading on Friday . The stock had previously closed at $28.20, but opened at $28.40. Taiwan Semiconductor Manufacturing shares last traded at $28.77, with a volume of 2,913,504 shares trading hands.

A number of research analysts have recently commented on the company. 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 upgraded Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Friday, July 8th. Goldman Sachs Group Inc. cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Finally, Daiwa Capital Markets upgraded Taiwan Semiconductor Manufacturing from a “neutral” rating to a “buy” rating in a research note on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $24.33.

The stock’s 50-day moving average price is $27.06 and its 200 day moving average price is $24.99. The company has a market capitalization of $149.30 billion and a price-to-earnings ratio of 16.94.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its earnings results on Thursday, July 14th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $4.54 by $4.11. The firm earned $6.84 billion during the quarter. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.08 EPS. On average, equities analysts forecast that Taiwan Semiconductor Manufacturing Co. will post $1.88 EPS for the current fiscal year.

The firm also recently announced a dividend, which was paid on Thursday, July 21st. Stockholders of record on Wednesday, June 29th were paid a dividend of $0.744 per share. The ex-dividend date of this dividend was Monday, June 27th.

Several hedge funds and institutional investors have added to or reduced their stakes in TSM. Buckingham Capital Management Inc. boosted its position 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 in the last quarter. Pittenger & Anderson Inc. boosted its position in Taiwan Semiconductor Manufacturing by 2.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 165,527 shares of the company’s stock worth $3,766,000 after buying an additional 4,480 shares in the last quarter. I.G. Investment Management LTD. boosted its position in Taiwan Semiconductor Manufacturing by 9.3% in the fourth quarter. I.G. Investment Management LTD. now owns 868,424 shares of the company’s stock worth $19,757,000 after buying an additional 74,035 shares in the last quarter. US Bancorp DE boosted its position in Taiwan Semiconductor Manufacturing by 1.3% in the fourth quarter. US Bancorp DE now owns 897,189 shares of the company’s stock worth $20,411,000 after buying an additional 11,477 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Taiwan Semiconductor Manufacturing by 1.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,272,540 shares of the company’s stock worth $28,950,000 after buying an additional 15,340 shares in the last quarter.

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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