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 note issued to investors on Sunday.

TSM has been the topic of a number of other research reports. Sanford C. Bernstein boosted their price objective on shares of Taiwan Semiconductor Manufacturing from $290.00 to $330.00 and gave the company an “outperform” rating in a research report on Sunday, December 7th. UBS Group set a $330.00 price objective on Taiwan Semiconductor Manufacturing in a research note on Sunday, December 7th. Barclays increased their target price on Taiwan Semiconductor Manufacturing from $330.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Taiwan Semiconductor Manufacturing in a report on Monday, December 8th. Finally, Susquehanna raised their target price on shares of Taiwan Semiconductor Manufacturing from $300.00 to $400.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently 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 $291.87 on Friday. Taiwan Semiconductor Manufacturing has a 52 week low of $134.25 and a 52 week high of $313.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.47 and a current ratio of 2.69. The firm’s fifty day moving average is $293.64 and its 200-day moving average is $256.75. The firm has a market cap of $1.51 trillion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31.

Taiwan Semiconductor Manufacturing (NYSE:TSM) last posted 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. The business had revenue of $32.36 billion for the quarter, compared to the consensus estimate of $951.89 billion. Taiwan Semiconductor Manufacturing had a return on equity of 34.34% and a net margin of 43.72%.The firm’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 EPS. Sell-side analysts predict that Taiwan Semiconductor Manufacturing will post 9.2 earnings per share for the current year.

Institutional Trading of Taiwan Semiconductor Manufacturing

Several large investors have recently added to or reduced their stakes in TSM. New Vernon Capital Holdings II LLC grew its position in Taiwan Semiconductor Manufacturing by 16,500.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 6,707,064 shares of the semiconductor company’s stock valued at $1,113,373,000 after acquiring an additional 6,666,660 shares in the last quarter. Jennison Associates LLC increased its position in shares of Taiwan Semiconductor Manufacturing by 26.7% during the second quarter. Jennison Associates LLC now owns 12,046,792 shares of the semiconductor company’s stock worth $2,728,478,000 after purchasing an additional 2,537,760 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Taiwan Semiconductor Manufacturing by 31.5% during the first quarter. Alliancebernstein L.P. now owns 8,864,014 shares of the semiconductor company’s stock worth $1,471,426,000 after acquiring an additional 2,121,758 shares during the last quarter. Brown Advisory Inc. increased its stake in Taiwan Semiconductor Manufacturing by 43.2% in the second quarter. Brown Advisory Inc. now owns 6,650,983 shares of the semiconductor company’s stock valued at $1,506,389,000 after purchasing an additional 2,006,745 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Taiwan Semiconductor Manufacturing by 19.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,350,239 shares of the semiconductor company’s stock valued at $2,050,141,000 after purchasing an additional 1,984,835 shares during the period. 16.51% of the stock is currently 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 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.