Taiwan Semiconductor Manufacturing (NYSE:TSM) Downgraded by StockNews.com to Hold

Taiwan Semiconductor Manufacturing (NYSE:TSM) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other brokerages have also recently commented on TSM. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Taiwan Semiconductor Manufacturing in a research note on Friday, October 20th. Barclays initiated coverage on shares of Taiwan Semiconductor Manufacturing in a research report on Monday, October 23rd. They set an “overweight” rating and a $105.00 target price on the stock. Finally, Susquehanna decreased their target price on shares of Taiwan Semiconductor Manufacturing from $135.00 to $130.00 in a research report on Monday, October 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.67.

Taiwan Semiconductor Manufacturing Stock Down 0.1 %

Shares of TSM stock opened at $98.77 on Tuesday. The stock has a market cap of $512.24 billion, a P/E ratio of 17.76, a PEG ratio of 2.71 and a beta of 1.04. Taiwan Semiconductor Manufacturing has a 52 week low of $72.84 and a 52 week high of $110.69. The company has a quick ratio of 1.88, a current ratio of 2.15 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $89.79 and its two-hundred day simple moving average is $94.16.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last announced its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.16 by $0.13. The business had revenue of $17.28 billion for the quarter, compared to analysts’ expectations of $16.90 billion. Taiwan Semiconductor Manufacturing had a net margin of 41.42% and a return on equity of 28.42%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.79 EPS. Analysts predict that Taiwan Semiconductor Manufacturing will post 4.97 EPS for the current fiscal year.

Institutional Trading of Taiwan Semiconductor Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSM. Macquarie Group Ltd. grew its stake in Taiwan Semiconductor Manufacturing by 9,912.6% in the 1st quarter. Macquarie Group Ltd. now owns 78,769,354 shares of the semiconductor company’s stock worth $7,327,125,000 after acquiring an additional 77,982,655 shares in the last quarter. FMR LLC grew its stake in Taiwan Semiconductor Manufacturing by 50.8% in the 1st quarter. FMR LLC now owns 41,902,774 shares of the semiconductor company’s stock worth $3,897,796,000 after acquiring an additional 14,122,168 shares in the last quarter. Capital World Investors grew its stake in Taiwan Semiconductor Manufacturing by 9.9% in the 2nd quarter. Capital World Investors now owns 34,673,330 shares of the semiconductor company’s stock worth $3,499,184,000 after acquiring an additional 3,129,635 shares in the last quarter. Morgan Stanley grew its stake in Taiwan Semiconductor Manufacturing by 27.7% in the 4th quarter. Morgan Stanley now owns 32,513,567 shares of the semiconductor company’s stock worth $2,421,936,000 after acquiring an additional 7,045,899 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Taiwan Semiconductor Manufacturing by 17.2% in the 2nd quarter. Fisher Asset Management LLC now owns 29,562,673 shares of the semiconductor company’s stock worth $2,988,346,000 after acquiring an additional 4,333,997 shares in the last quarter. 16.51% of the stock is owned by hedge funds and other institutional investors.

Taiwan Semiconductor Manufacturing Company Profile

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 complementary metal oxide silicon wafer fabrication processes to manufacture logic, mixed-signal, radio frequency, and embedded memory semiconductors.