Taiwan Semiconductor Manufacturing Co. (TSM) Reaches New 1-Year High at $29.45
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM)’s share price hit a new 52-week high on Monday . The stock traded as high as $29.45 and last traded at $29.35, with a volume of 1,075,027 shares traded. The stock had previously closed at $29.24.
Several brokerages recently weighed in on TSM. Nomura downgraded shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. lowered Taiwan Semiconductor Manufacturing from an “overweight” rating to a “neutral” rating in a research report 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 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 upgraded Taiwan Semiconductor Manufacturing from a “neutral” rating to a “buy” rating in a research report on Friday, June 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.33.
The firm has a market cap of $150.81 billion and a PE ratio of 16.71. The stock’s 50-day moving average price is $27.69 and its 200 day moving average price is $25.43.
Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted its earnings results on Thursday, July 14th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $4.54 by $4.11. The company earned $6.84 billion during the quarter. During the same quarter in the previous year, the business earned $3.08 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that Taiwan Semiconductor Manufacturing Co. will post $1.88 earnings per share for the current fiscal year.
The company also recently declared a dividend, which was paid on Thursday, July 21st. Shareholders of record on Wednesday, June 29th were given a dividend of $0.744 per share. The ex-dividend date was Monday, June 27th.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. raised 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 valued at $19,757,000 after buying an additional 74,035 shares during the period. US Bancorp DE raised 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 valued at $20,411,000 after buying an additional 11,477 shares during the period. Finally, Principal Financial Group Inc. raised 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 valued at $28,950,000 after buying an additional 15,340 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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