Taiwan Semiconductor Mfg. (NYSE:TSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

A number of other brokerages have also recently issued reports on TSM. Macquarie upgraded shares of Taiwan Semiconductor Mfg. from a “neutral” rating to an “outperform” rating in a report on Friday, July 24th. New Street Research assumed coverage on shares of Taiwan Semiconductor Mfg. in a report on Friday, August 28th. They set a “buy” rating for the company. Susquehanna Bancshares restated a “sell” rating and set a $40.00 price objective on shares of Taiwan Semiconductor Mfg. in a report on Friday, July 10th. Credit Suisse Group upgraded shares of Taiwan Semiconductor Mfg. from a “neutral” rating to an “outperform” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Taiwan Semiconductor Mfg. in a report on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Taiwan Semiconductor Mfg. presently has a consensus rating of “Buy” and a consensus target price of $53.33.

Shares of TSM traded down $1.16 on Wednesday, reaching $84.69. 206,167 shares of the company’s stock were exchanged, compared to its average volume of 10,180,389. The company has a current ratio of 1.40, a quick ratio of 1.26 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $445.22 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 1.28 and a beta of 0.94. The business has a 50 day moving average price of $79.54 and a two-hundred day moving average price of $60.55. Taiwan Semiconductor Mfg. has a 12 month low of $42.70 and a 12 month high of $86.79.

Taiwan Semiconductor Mfg. (NYSE:TSM) last posted its quarterly earnings results on Thursday, July 16th. The semiconductor company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. The business had revenue of $310.70 billion during the quarter, compared to the consensus estimate of $273.44 billion. Taiwan Semiconductor Mfg. had a net margin of 36.96% and a return on equity of 27.42%. Taiwan Semiconductor Mfg.’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 earnings per share. Equities research analysts predict that Taiwan Semiconductor Mfg. will post 3.13 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in TSM. Bainco International Investors acquired a new position in shares of Taiwan Semiconductor Mfg. in the first quarter valued at approximately $25,000. AGF Investments America Inc. bought a new position in shares of Taiwan Semiconductor Mfg. in the first quarter valued at about $31,000. Keebeck Wealth Management LLC bought a new position in shares of Taiwan Semiconductor Mfg. in the second quarter valued at about $36,000. American Beacon Advisors Inc. bought a new position in shares of Taiwan Semiconductor Mfg. in the first quarter valued at about $48,000. Finally, James Investment Research Inc. raised its position in shares of Taiwan Semiconductor Mfg. by 1,116.4% in the second quarter. James Investment Research Inc. now owns 888 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 815 shares during the period. Institutional investors own 18.52% of the company’s stock.

About Taiwan Semiconductor Mfg.

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices. The company manufactures masks and electronic spare parts; researches, develops, designs, manufactures, sells, packages, and tests color filters; and offers customer and engineering support services.

Featured Story: Oversold

Get a free copy of the Zacks research report on Taiwan Semiconductor Mfg. (TSM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Taiwan Semiconductor Mfg. (NYSE:TSM)

Receive News & Ratings for Taiwan Semiconductor Mfg. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taiwan Semiconductor Mfg. and related companies with MarketBeat.com's FREE daily email newsletter.