Zacks Investment Research upgraded shares of Taiwan Semiconductor Mfg. (NYSE:TSM) from a hold rating to a buy rating in a research report released on Thursday. Zacks Investment Research currently has $48.00 price target on the semiconductor company’s 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. “

Other analysts have also issued reports about the company. Morgan Stanley lowered Taiwan Semiconductor Mfg. from an overweight rating to an equal weight rating in a research report on Monday, November 27th. JPMorgan Chase & Co. raised Taiwan Semiconductor Mfg. from a neutral rating to an overweight rating in a research report on Tuesday, October 10th. Daiwa Capital Markets lowered Taiwan Semiconductor Mfg. from an outperform rating to a hold rating in a research report on Thursday, October 19th. KeyCorp reaffirmed a hold rating on shares of Taiwan Semiconductor Mfg. in a research report on Friday, October 20th. Finally, ValuEngine raised Taiwan Semiconductor Mfg. from a hold rating to a buy rating in a research report on Sunday, December 31st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $37.50.

Taiwan Semiconductor Mfg. (NYSE TSM) opened at $41.19 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.36 and a quick ratio of 2.11. Taiwan Semiconductor Mfg. has a 52-week low of $29.22 and a 52-week high of $43.02. The company has a market capitalization of $213,611.33, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.13 and a beta of 0.74.

Taiwan Semiconductor Mfg. (NYSE:TSM) last released its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. Taiwan Semiconductor Mfg. had a return on equity of 24.48% and a net margin of 35.71%. equities research analysts anticipate that Taiwan Semiconductor Mfg. will post 2.19 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of TSM. Harding Loevner LP grew its stake in Taiwan Semiconductor Mfg. by 1,575.4% in the third quarter. Harding Loevner LP now owns 289,009,863 shares of the semiconductor company’s stock worth $412,105,000 after purchasing an additional 271,759,847 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Taiwan Semiconductor Mfg. by 13.0% in the third quarter. Bank of New York Mellon Corp now owns 46,289,495 shares of the semiconductor company’s stock worth $1,738,170,000 after purchasing an additional 5,317,439 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in Taiwan Semiconductor Mfg. in the second quarter worth about $152,774,000. Vanguard Group Inc. grew its stake in Taiwan Semiconductor Mfg. by 10.6% in the second quarter. Vanguard Group Inc. now owns 43,283,137 shares of the semiconductor company’s stock worth $1,513,179,000 after purchasing an additional 4,139,915 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Taiwan Semiconductor Mfg. by 114.2% in the second quarter. Janus Henderson Group PLC now owns 7,081,407 shares of the semiconductor company’s stock worth $247,533,000 after purchasing an additional 3,775,916 shares in the last quarter. Institutional investors and hedge funds own 19.39% of the company’s stock.

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About Taiwan Semiconductor Mfg.

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a semiconductor foundry. The Company is engaged in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. It operates through foundry segment.

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