Investors Buy Taiwan Semiconductor Manufacturing Co. (TSM) on Weakness
Investors purchased shares of Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) on weakness during trading hours on Monday. $29.92 million flowed into the stock on the tick-up and $17.38 million flowed out of the stock on the tick-down, for a money net flow of $12.54 million into the stock. Of all stocks tracked, Taiwan Semiconductor Manufacturing had the 22nd highest net in-flow for the day. Taiwan Semiconductor Manufacturing traded down ($0.24) for the day and closed at $28.40
A number of brokerages have recently issued reports on TSM. Nomura cut shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. lowered shares of Taiwan Semiconductor Manufacturing from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 12th. Zacks Investment Research upgraded shares of Taiwan Semiconductor Manufacturing from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Friday, July 8th. Goldman Sachs Group Inc. lowered shares of Taiwan Semiconductor Manufacturing from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Finally, Daiwa Capital Markets upgraded shares of Taiwan Semiconductor Manufacturing from a “neutral” rating to a “buy” rating in a research note on Friday, June 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $24.33.
The firm has a market cap of $147.28 billion and a PE ratio of 16.42. The stock has a 50-day moving average price of $28.01 and a 200 day moving average price of $25.60.
Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings data on Thursday, July 14th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.54 by $4.11. The firm had revenue of $6.84 billion for the quarter. During the same period in the previous year, the business posted $3.08 earnings per share. The firm’s quarterly revenue 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 year.
An institutional investor recently raised its position in Taiwan Semiconductor Manufacturing stock. I.G. Investment Management LTD. increased its stake in Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 868,424 shares of the company’s stock after buying an additional 74,035 shares during the period. I.G. Investment Management LTD.’s holdings in Taiwan Semiconductor Manufacturing were worth $19,757,000 at the end of the most recent 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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