Wall Street Zen Upgrades Taiwan Semiconductor Manufacturing (NYSE:TSM) to Buy

Taiwan Semiconductor Manufacturing (NYSE:TSM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other research firms also recently issued reports on TSM. Citigroup reaffirmed a “buy” rating on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 17th. Sanford C. Bernstein raised their target price on Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Sunday, December 7th. UBS Group set a $330.00 price target on Taiwan Semiconductor Manufacturing in a research note on Sunday, December 7th. Barclays increased their price target on Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $360.00 price objective on shares of Taiwan Semiconductor Manufacturing in a report on Monday, October 27th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $355.00.

Taiwan Semiconductor Manufacturing Price Performance

Shares of NYSE TSM opened at $287.79 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.69 and a quick ratio of 2.47. Taiwan Semiconductor Manufacturing has a 1-year low of $134.25 and a 1-year high of $313.98. The company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 29.52, a PEG ratio of 1.00 and a beta of 1.31. The business has a 50-day moving average of $293.35 and a 200-day moving average of $257.82.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last released its quarterly earnings results on Thursday, October 16th. The semiconductor company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.33. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.The firm had revenue of $32.36 billion during the quarter, compared to analysts’ expectations of $951.89 billion. During the same quarter in the prior year, the business earned $1.94 EPS. Taiwan Semiconductor Manufacturing’s quarterly revenue was up 40.1% compared to the same quarter last year. On average, equities analysts anticipate that Taiwan Semiconductor Manufacturing will post 9.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Taiwan Semiconductor Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in TSM. Heartwood Wealth Advisors LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the third quarter worth $32,000. Cedar Wealth Management LLC raised its stake in Taiwan Semiconductor Manufacturing by 91.4% during the third quarter. Cedar Wealth Management LLC now owns 134 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 64 shares during the period. Fairman Group LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 171.2% in the third quarter. Fairman Group LLC now owns 141 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 89 shares during the last quarter. Resources Management Corp CT ADV acquired a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $32,000. Finally, Mid American Wealth Advisory Group Inc. acquired a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at approximately $33,000. 16.51% of the stock is owned by institutional investors and hedge funds.

About Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.