Taiwan Semiconductor Manufacturing Co. (NYSE:TSM)’s share price gapped up before the market opened 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 traded.

Several brokerages recently issued reports on TSM. Zacks Investment Research upgraded Taiwan Semiconductor Manufacturing from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Goldman Sachs Group Inc. cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Daiwa Capital Markets upgraded Taiwan Semiconductor Manufacturing from a “neutral” rating to a “buy” rating in a research note on Friday, June 3rd. JPMorgan Chase & Co. cut Taiwan Semiconductor Manufacturing from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 12th. Finally, Nomura cut Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $24.33.

The firm has a market cap of $149.10 billion and a P/E ratio of 16.79. The company’s 50-day moving average price is $27.06 and its 200 day moving average price is $24.99.

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

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

Other hedge funds have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its stake 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. Buckingham Capital Management Inc. boosted 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 in the last quarter. US Bancorp DE boosted its stake 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. Principal Financial Group Inc. boosted its stake 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. Finally, I.G. Investment Management LTD. boosted its stake 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.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.