Zacks Investment Research upgraded shares of Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $33.00 target price on the stock.

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. “

Analyst Recommendations for Taiwan Semiconductor Manufacturing (NYSE:TSM)

Several other equities analysts have also recently weighed in on TSM. Bank of America Corp. reaffirmed a buy rating on shares of Taiwan Semiconductor Manufacturing in a research note on Monday. Goldman Sachs Group Inc. cut shares of Taiwan Semiconductor Manufacturing from a buy rating to a neutral rating in a research note on Tuesday, June 28th. Daiwa Capital Markets raised shares of Taiwan Semiconductor Manufacturing from a neutral rating to a buy rating in a research note on Friday, June 3rd. JPMorgan Chase & Co. cut shares of Taiwan Semiconductor Manufacturing from an overweight rating to a neutral rating in a research note on Tuesday, July 12th. Finally, Nomura cut shares of Taiwan Semiconductor Manufacturing from a buy rating to a neutral rating in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $25.33.

Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) traded up 1.11% during trading on Wednesday, hitting $30.84. 1,073,803 shares of the stock traded hands. The stock has a market cap of $159.94 billion, a PE ratio of 18.04 and a beta of 0.94. The firm’s 50-day moving average price is $29.02 and its 200-day moving average price is $26.43. Taiwan Semiconductor Manufacturing has a 12 month low of $19.49 and a 12 month high of $30.95.

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 Thomson Reuters’ consensus estimate of $4.54 by $4.11. The company had revenue of $6.84 billion for the quarter. Taiwan Semiconductor Manufacturing had a net margin of 33.94% and a return on equity of 23.38%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $3.08 earnings per share. Analysts anticipate that Taiwan Semiconductor Manufacturing will post $1.89 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. raised its stake in Taiwan Semiconductor Manufacturing by 7.3% in the second quarter. PineBridge Investments L.P. now owns 4,036 shares of the company’s stock valued at $106,000 after buying an additional 275 shares during the period. Carnick & Kubik LLC purchased a new stake in Taiwan Semiconductor Manufacturing during the first quarter valued at about $107,000. Howe & Rusling Inc. raised its stake in Taiwan Semiconductor Manufacturing by 11.1% in the second quarter. Howe & Rusling Inc. now owns 4,595 shares of the company’s stock valued at $121,000 after buying an additional 458 shares during the period. Glenmede Trust Co. NA raised its stake in Taiwan Semiconductor Manufacturing by 117.5% in the second quarter. Glenmede Trust Co. NA now owns 4,800 shares of the company’s stock valued at $125,000 after buying an additional 2,593 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in Taiwan Semiconductor Manufacturing by 94.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,217 shares of the company’s stock valued at $137,000 after buying an additional 2,528 shares during the period. Hedge funds and other institutional investors own 19.51% of the company’s stock.

Taiwan Semiconductor Manufacturing Company Profile

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.

5 Day Chart for NYSE:TSM

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