Taiwan Semiconductor Manufacturing (NYSE:TSM) Upgraded at Zacks Investment Research

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $109.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.39% from the stock’s current price.

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 commented on TSM. Morgan Stanley upgraded Taiwan Semiconductor Manufacturing from an “equal weight” rating to an “overweight” rating in a report on Monday, February 7th. Atlantic Securities upgraded Taiwan Semiconductor Manufacturing from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $125.00 to $170.00 in a report on Thursday, January 13th. DZ Bank assumed coverage on Taiwan Semiconductor Manufacturing in a report on Wednesday, January 12th. They set a “buy” rating and a $145.00 target price on the stock. StockNews.com assumed coverage on Taiwan Semiconductor Manufacturing in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Cowen upped their target price on Taiwan Semiconductor Manufacturing from $120.00 to $125.00 in a report on Tuesday, January 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $135.26.

Shares of Taiwan Semiconductor Manufacturing stock opened at $101.50 on Thursday. The firm has a market cap of $526.39 billion, a price-to-earnings ratio of 24.64 and a beta of 0.91. The stock’s 50-day moving average is $109.27 and its 200-day moving average is $116.07. Taiwan Semiconductor Manufacturing has a one year low of $96.91 and a one year high of $145.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.09 and a quick ratio of 1.81.

Taiwan Semiconductor Manufacturing (NYSE:TSMGet Rating) last issued its quarterly earnings results on Thursday, January 13th. The semiconductor company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The company had revenue of $15.74 billion for the quarter, compared to analyst estimates of $16.10 billion. Taiwan Semiconductor Manufacturing had a return on equity of 29.78% and a net margin of 37.58%. On average, equities analysts expect that Taiwan Semiconductor Manufacturing will post 5.42 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $26,000. Curi Wealth Management LLC acquired a new position in shares of Taiwan Semiconductor Manufacturing in the fourth quarter valued at approximately $28,000. Bell Investment Advisors Inc acquired a new position in shares of Taiwan Semiconductor Manufacturing in the third quarter valued at approximately $32,000. Eagle Bay Advisors LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 66.3% in the third quarter. Eagle Bay Advisors LLC now owns 316 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 126 shares during the last quarter. Finally, Asset Dedication LLC grew its position in shares of Taiwan Semiconductor Manufacturing by 176.2% in the fourth quarter. Asset Dedication LLC now owns 290 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 185 shares during the last quarter.

Taiwan Semiconductor Manufacturing Company Profile (Get Rating)

Taiwan Semiconductor Manufacturing Company Limited manufactures and sells integrated circuits and semiconductors. It also offers customer service, account management, and engineering services. The company serves customers in computer, communications, consumer, and industrial and standard segments in North America, Europe, Japan, China, and South Korea.

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